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Special Report

Avis Short Squeeze Shocked the Market: Are These 3 Stocks Next?

Author: Dan Schmidt. Published: 4/27/2026. 

Stylized illustration of metallic cubes bearing tech company logos passing through a glowing green financial gateway with stock charts in the background.

Key Points

  • A recent Avis Budget Group short squeeze, which sent shares from $100 to $700, illustrates how a captured float and high short interest can produce extreme price moves.
  • True short squeezes are rare and require a combination of factors coming together to materialize.
  • Groupon, Asana, and Beyond Meat each show elevated short interest above 30%, more than five days to cover, and near-term catalysts: the recipe to ignite a short squeeze
  • Special Report: Elon’s “Hidden” Company

Investors were transported back to 2021 when shares of Avis Budget Group (NASDAQ: CAR) surged from $100 to $850 in just over three weeks.

No announcement or breakthrough drove the move; it was a classic short-squeeze story fueled by an artificially limited float and unrestrained risk-taking.

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The squeeze was orchestrated by a pair of hedge funds that effectively gained control of the entire float. Through stock and swaps, Pentwater Capital and SRS Investment Management controlled more than 80% of the float in a stock already carrying 13% short interest.

As a result, there were essentially no shares available for shorts to cover, and the resulting feedback loop pushed the stock up more than 500%. Like most short squeezes, the trade quickly unwound, and CAR shares are back in the low $200s. Still, the episode was a useful refresher on short-squeeze mechanics and could help set the stage for the next round of squeezes.

3 Stocks With High Short Interest That Could Squeeze Next

A true short squeeze requires three elements: a high level of short interest, a lengthy days-to-cover period, and a catalyst that can ignite a rally.

High short interest, combined with more than 5 days to cover, can create a difficult environment for short sellers trying to locate shares to close their positions. And when shorts are scrambling to cover while buyers pour in, that’s when the short-squeeze feedback loop really takes hold. Here are three stocks that fit those criteria.

Groupon: Clean Short Squeeze Setup With Upcoming Earnings Catalyst

Online discount marketplace Groupon Inc. (NASDAQ: GRPN) is always a popular short-squeeze candidate thanks to its earnings volatility and its general inability to turn revenue into profit.

The shorts have mostly been rewarded over the years, as GRPN shares have lost more than 65% of their value over the last five years.

But heavily shorted stocks often provide brief windows of opportunity, and Groupon has the classic short-squeeze setup traders often look for.

First, GRPN has more than 50% of its float sold short, up more than 5% from the previous month. The stock started the year with about 40% of the float sold short, so this marks an acceleration from earlier levels. And crucially, shorts would need roughly 11.3 days to cover under average trading volume, creating a lengthy window for a short squeeze to develop.

In addition to the classic high short interest plus high days-to-cover combination, Groupon has a catalyst on the horizon with its Q1 2026 earnings release on May 6. An upside surprise could put more pressure on shorts, as the stock has already climbed more than 30% in the last month.

Ignore the recent pullback; both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators show building buying momentum ahead of the earnings catalyst.

Daily stock price chart for Groupon (GRPN) showing RSI and MACD indicators trending upward despite a recent price pullback.

Asana: Founder Control Shrinks the Tradable Supply

Asana Inc. (NYSE: ASAN) is the work management software platform founded by Dustin Moskovitz, one of the original designers of Facebook and a tech sector staple.

The company has struggled to achieve profitability over nearly two decades of operations, but it recently posted back-to-back positive EPS figures in fiscal Q3 and Q4 2026.

It also reported record revenue of $205.57 million in Q4 2026, representing more than 9% year-over-year (YOY) growth. Sentiment may be turning for Asana; the stock received a rare upgrade from the Royal Bank of Canada in early April, and the share price has been trending higher for the past few weeks.

Nearly 35% of the float is sold short in ASAN, with about 4.2 days to cover. That combination already makes for an intriguing short-squeeze setup, but Moskovitz’s controlling stake is so large that it artificially reduces the number of shares available for trading. He’s also been a relentless buyer during downturns, creating a dynamic similar to what unfolded at Avis.

Short interest is at its highest level since 2022, but indicators like the RSI and MACD suggest selling pressure is easing, and a steady influx of buyers could be the catalyst that ignites the squeeze.

Daily stock price chart for Asana (ASAN) with RSI and MACD indicators suggesting a potential trend reversal.

Beyond Meat: Product News and Earnings Keep Volatility Elevated

Few stocks have destroyed capital like Beyond Meat Inc. (NASDAQ: BYND), which is down more than 99% since its 2019 IPO.

But that hasn’t stopped management from trying new initiatives, and a few catalysts have pushed the stock up more than 30% this month.

First, the company announced a partnership with Big Geyser for a protein-enhanced sports drink called Beyond Immerse. It also launched a new line of breakfast sausages and spicy chicken pieces, with the latter sold exclusively at Kroger (NYSE: KR).

With more than 31% of the float sold shortand about 4.0 days to cover, the stock has the technical underpinnings for a short squeeze. A bullish MACD crossover triggered a trend reversal in early April, and the RSI is now back in bullish territory for the first time since early March. The company reports earnings on May 6, so another potential catalyst is waiting in the wings.

Daily stock price chart for Beyond Meat (BYND) showing a sharp price spike in late April 2026 with RSI and MACD indicators.

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Published by RJ Hamster

I was born on 6 August 1956 in San Francisco, California to Janet and (the late) Richard Hovis. I grew up in Santa Monica, California where I attended elementary, junior high school, and high school (graduating in 1974), in addition to involvement in sports and recreation (Little League +, the Boy’s Club ++). Further, it was in elementary school – St. Augustine’s By-the -Sea Parish School that I found, and made the choice to truly journey with God. I attended Arizona State University from 1974 to 1977 – seeking to become an architect, however, I was not accepted, and, as such, I graduated with a Liberal Arts degree. Upon graduation from Arizona State University, I attended Cal Poly San Luis Obispo and studied City and Regional Planning at the Master’s level. I successfully completed one (1) year in a two (2) year program – I did not complete the Master’s degree in City and Regional Planning – due to personal reasons. I returned to Santa Monica where I started (October 1979) my career as graphic designer with Exxon Company, USA. I spent five years with Exxon Company, USA. While working with Exxon Company, USA I was accepted into architectural school – Sci-Arc in Southern California, however, I did not attend preferring to stay with Exxon.. In 1982 I married Laura Flosi and in April 1983 we had our one and only child – Lauren Alain Hovis – a gift from God. We moved to Phoenix, Arizona in 1984 from Los Angeles, where I went to work as a graphic designer with Kitchell CEM (from 1985 -1987). From 1987 – 1995 I was an independent contractor, and a registered representative in mortgage finance, financial management, graphic design, and drafting. Further, I attended the University of Phoenix and successfully obtained a Master’s in Business Administration (MBA) in 1982. I was also a member of the Scottsdale Jaycees, where I became very involved in community events and projects. In 1994, I accepted a cartography position with the Defense Mapping Agency in Reston, Virginia. As such, I relocated from Phoenix to Reston. In 1998, I was accepted and worked as a Visual Information Officer with the Central Intelligence Agency. In 2002, I worked as a Support Officer until my retirement (due to a need for shoulder surgery) in September 2018. Away from my Federal Government service, I have been involved in various organizations and activities in Northern Virginia. In November of 2011, I married Rebecca Ouellette in Santa Monica, California. I reside in San Tan Valley, AZ with my two hamster - Jess and Timothy, our fish, our lizard - RJ Lizard., and our cats - Pearl and Grey. As to hobbies, I enjoy playing sports, attending sporting events, mentoring individuals from financial management to hamsters, building models, photography, travel, multimedia design, managing partner for RJ Hamster, and jazz – smooth jazz to a samba or a bossa nova. Love and God Bless, Peter – aka RJ Hamster Jo hi

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