3 Short Squeeze Candidates In The Materials Sector

Timkensteel Corp TMST
IT Tech Packaging produces alloy, carbon, and micro-alloy steel products. The stock’s 37.2 million-share float and its short percent of float of 16.3% are the perfect ingredients for a potential short squeeze.

In addition, short squeeze traders have frequently targeted stocks trading under $15 per share this year, and Timkensteel shares currently trade at just $13.15. Finally, the stock has repeatedly demonstrated its potential volatility, gaining 187.1% year-to-date and spiking from under $5 per share in early February to above $12 by mid-March.

Piedmont Lithium PLL
Piedmont Lithium explores and develops mineral properties.

Piedmont’s 23.6% short percent of float is the highest among the three stocks mentioned, and its 2.62 million-share float is by far the smallest, providing an opportunity for a huge squeeze. Piedmont also has a history of extreme volatility. In September 2020, the stock spiked from under $6 to as high as $54.50 in less than a month when the company announced a supply deal with Tesla Inc. TSLA.

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