1. Digital Brands Group Inc. (NASDAQ:DBGI)
Shares of Digital Brands Group have steadily climbed over the last few months. Thanks to a resurgence in retail shopping trends and e-commerce, the company has successfully weathered some of the latest turbulence in the stock market. Its model focuses on selling luxury lifestyle brands via its “digital-first” platform both as direct to consumer and wholesale.
Recent DBGI Stock News
The most recent update from Digital Brands concerned its revenue growth. The company saw record eCommerce revenue increase year-over-year after the company flipped the switch on its digital advertising from the Bailey 44 and DSTLD brands for the first time in over a year.
Hil Davis, Chief Executive Officer of Digital Brands Group, stated in an October release, “we are excited to finally move into our growth phase, and believe this shows the power of our platform and the growth opportunity for 2022 and beyond. In fact, our 2022 revenue guidance does not reflect the ROI and revenue increase we are currently experiencing on our digital advertising spend.”
Is DBGI A Short Squeeze Penny Stock To Watch?
According to data from Fintel, Digital Brands Group has a short float percentage of just under 19% as of this article. With a total outstanding share count of roughly 13 million shares, it will be interesting to see if DBGI stock can continue its steady uptrend that started back in September.
2. Arbutus Biopharma Corp. (NASDAQ:ABUS)
Another one of the companies we’ve discussed recently is Arbutus Biopharma. The company develops treatments for chronic infections, including Hepatitis B as well as coronaviruses. One of the most significant points of focus for the market has been on the company’s relationship to Moderna (NASDAQ:MRNA) of all companies. Earlier this month, Arbutus gave arguments in the United States Court Of Appeals For The Federal Circuit. This was in response to ongoing issues with Moderna over Arbutus’s lipid formulations for nucleic acid delivery.
Recent ABUS Stock News
While no further catalysts came from that original October 7th argument, there are some things to keep in mind heading into November. This is namely the company’s financial results and corporate update. If ABUS is on your list of penny stocks right now, markdown November 4th as the date to remember. This is when the company will update on its third-quarter financials and business developments.
Is ABUS A Short Squeeze Penny Stock To Watch?
If you look at data from Fintel, Arbutus shows a short float percentage of 64.38% right now. By all accounts, this is a high level. Heading into November, this could be an additional item to account for, in addition to what the company says during its business update at the start of next month.
3. Waitr Holdings (NASDAQ:WTRH)
In a similar fashion to the other name on this list of penny stocks, Waitr Holdings has been under pressure over the last few months. However, since mid-month, WTRH stock has been on the move. The company’s model focuses on the emerging food delivery market. Waitr’s on-demand food ordering and delivery platform is targeting userbase in smaller markets.
Recent WTRH Stock news
A few things have helped build momentum behind WTRH stock. First, filings showing a 10.3% stake in the company from Morgan Stanley sparked the initial excitement this month. Anytime you see a big bank buying into a penny stock, the market tends to react favorably, which it did. Waitr also announced plans for expanding its partnership with on-demand commerce platform Olo Inc. (NYSE:OLO).
Waitr will join Olo’s Dispatch network, which allows its Bite Squad and Delivery Dudes to receive requests from restaurant orders. “Teaming with Olo on Dispatch expands our access into new restaurants in multiple markets. It also provides the opportunity to show new customers a better delivery experience,” said Carl Grimstad, CEO, and Chairman of Waitr, in an October update.
Is WTRH A Short Squeeze Penny Stock To Watch?
According to Fintel, the short float percentage in WTRH stock sits around 16% as of this article. There have been some conflicting data based on what I’ve seen from people posting on social media. So depending on where you look, figures may vary. Needless to say, WTRH stock continues gaining attention in the market.
4. Alpine 4 Holdings (NASDAQ:ALPP)
This month, newly uplisted Alpine 4 Holdings has gained interest in the stock market following its move to the NASDAQ from the OTC. The company focuses on acquiring and incubating companies that all fit a similar model.
Alpine has identified this as “Drivers, Stabilizers, and Facilitators” or DSF business. Its holdings include everything from metal fabrication companies and HVAC businesses to aerospace and forecasting technologies. The company also has a health subsidiary, Alternative Laboratories, developing nutritional and wellness products.
Recent ALPP Stock News
Other than the uplisting, there are new events that have put a focus on ALPP stock. Its Alternative Laboratories secured a $1.9 million purchase order focusing on Men’s Health and anti-aging products. This order is expected to get fulfilled between this and next quarter.
Is ALPP A Short Squeeze Penny Stock To Watch?
The data shows that the short float percentage on ALPP stock sits around 35% as of today. Given that shares have pulled back considerably over the last few weeks, it will be interesting to see if the penny stock can manage a bounce back now that it’s testing its 50-day moving average.
5. Progenity Inc. (NASDAQ:PROG)
Similar to some of the other names on this list of penny stocks. Progenity has been one to watch recently. It wasn’t that long ago we had it on the list of penny stocks under $1 to watch. In the company’s case, it develops a platform like its PreecludiaTM test. It’s designed to rule out preeclampsia in pregnant patients. A recent study demonstrated that Preecludia could “significantly distinguish” between the presence and absence of preeclampsia.
Earlier this month, Progenity announced several patents granted by the US Patent & Trademark Office, strengthening its IP in ingestible therapeutic technologies. In addition to that, new analyst coverage from HC Wainwright last week sparked some optimism in the market. The firm slapped a Buy on the stock as well as a $4 target.
Recent PROG Stock News
The most recent development from the company concerns its financials. In particular, the biotech announced that it was able to reduce its outstanding debt by over $20 million. In light of this, the market seems to have responded favorably so far and further extended PROG stock’s big move in October.
Is PROG A Short Squeeze Penny Stock To Watch?
If you look at the history of PROG stock on our site, it’s been on the list of penny stocks with high short interest for weeks. As of this article, data shows the short float percentage on PROG stock sitting around 22% right now.
This article originally ran on pennystocks.com.