New data suggests that Fitell (FTEL) may be the next big short squeeze stock. Market analysis platform Fintel currently ranks it as the top name on its short squeeze leaderboard. FTEL stock has been rising steadily all month, with noticeable momentum recently picking up. Fintel’s model indicates that this growth could be driven by short squeeze anticipation.
When it comes to potential short squeezes, the key question is: how long can this momentum last? Let’s take a closer look at this new short squeeze candidate and assess what investors should expect.
What’s Happening with Fitell Stock?
Despite its recent momentum, Fitell isn’t off to a strong start today. As of this writing, shares are down 5% after dipping 6% in pre-market trading. However, it remains solidly in the green for the week, having risen 18% over the past five days and 30% for the month.
This trading pattern suggests that short squeeze momentum is picking up, especially since the company hasn’t reported any growth-driving catalysts over the past month. However, FTEL stock has experienced extreme volatility, to the point that Nasdaq imposed a temporary trading halt two days ago.
Now, Fintel’s data confirms high short interest in Fitell, accounting for 32% of FTEL stock’s float. Additionally, when markets opened this morning, no shares were available to short. Fitell currently holds a short squeeze score of 97.27 out of 100.
A Short Seller Speaks Out
Fitell stock currently holds no ratings from Wall Street analysts. However, one institutional investor has voiced strong opinions on it. In September 2024, short seller Bleeker Street Capital revealed a bet against FTEL. In a short report, the firm alleged that Fitell’s biggest shareholder had “undisclosed ties to a vast web of stock promotions and scams.”
This could have sparked short squeeze speculation. Since the report, FTEL stock has surged more than 68%. However, today’s performance suggests that any short squeeze momentum may be waning.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
