The author posts a January 2026 squeeze-radar list of eight heavily shorted small caps (DRMA, NFE, PAVS, AEHL, WOK, RPGL, SUGP, DRCT), pairing short-interest data with company-specific catalysts for potential short squeezes.
DRMA — LONG The author highlights Dermata Therapeutics as a squeeze candidate with short interest at 3,604.43% of float, an off-exchange short volume ratio of 53.21% and days-to-cover of 8.87. He argues the setup is reinforced by positive Phase 3 results for the acne treatment XYNGARI meeting all primary endpoints, which management says de-risks the second Phase 3 trial and could make it the first once-weekly topical acne treatment. That combination of extreme short positioning and clinical progress is framed as the squeeze catalyst.
DRMA announced that its acne treatment XYNGARI achieved highly significant results in a Phase 3 trial, meeting all primary endpoints.
NFE — LONG The author flags New Fortress Energy as having over 69 million shares short, 53.81% of float short and days-to-cover near 9, saying shorts could be vulnerable to rapid covering pressure and that high off-exchange short volume indicates non-transparent positioning that could unwind under a liquidity crunch. He ties the setup to NFE's global LNG infrastructure exposure and recently secured final agreements for offshore gas-to-power projects expected to drive revenue growth over the next several quarters.
New Fortress Energy (NFE) is showing an elevated short interest profile with over 69 million shares short and a days-to-cover ratio nearing 9, suggesting shorts could be vulnerable to rapid covering pressure.
PAVS — LONG The author lists Paranovus with short interest at 241.83% of float and a 55.04% off-exchange short volume ratio as a squeeze setup. He argues the fundamental side is improving after the company regained Nasdaq listing compliance, canceling a planned delisting hearing, and posted roughly 18,037% year-over-year revenue growth in H1 2025 to $12.4 million while swinging to net profit on its pivot into e-commerce and AI-driven entertainment.
Additionally, PAVS recently regained compliance with Nasdaq listing requirements, canceling a planned delisting hearing and ensuring continued listing on the Nasdaq Capital Market.
AEHL — LONG The author places Antelope Enterprise on the squeeze list with 161.24% of float short and a 57.82% off-exchange short volume ratio. He argues the catalyst is a strategic financing deal of up to $50 million to be used exclusively for purchasing Bitcoin, plus a planned long-term Bitcoin strategic roadmap and Web3 initiatives that management describes as the "true starting point" of its digital transformation.
AEHL secured a strategic financing deal for up to $50 million to be used exclusively for purchasing Bitcoin, signaling a bold pivot that could strengthen its balance sheet and investor confidence.
WOK — LONG The author includes WORK Medical on the radar even though short interest is only 4.50% of float, pointing instead to a roughly 117.9% short borrow fee rate as the squeeze mechanism. The stated catalyst is a subsidiary's exclusive one-year distribution partnership with Shanghai Benke for its AI-driven blood cell analyzer in East China during 2026, targeting at least ¥10 million in annual sales after the device received Class II medical device manufacturing approval in China.
WOK’s subsidiary signed an exclusive one-year distribution partnership with Shanghai Benke to promote its AI-driven blood cell analyzer in East China throughout 2026, targeting at least ¥10 million in annual sales.
RPGL — LONG The author lists Republic Power Group with 36.79% of float short and 4.11 days to cover as a squeeze candidate. He argues the fundamental backdrop supports it, citing roughly $2.36 million in revenue and $0.28 million in net profit over the last twelve months and a net cash position where cash on hand exceeds debt, noting the company reached profitability soon after its October 2025 IPO.
In summary, RPGL has demonstrated improving fundamentals, posting approximately $2.36 million in revenue and $0.28 million in net profit over the last twelve months.
SUGP — LONG The author puts SU Group Holdings on the squeeze list with 22.54% of float short and a 51.32% off-exchange short volume ratio. He notes the company is highly insider-controlled with Chairman Mr. Chan Ming Dave holding about 99% of voting power after a dual-class restructuring, and cites its largest-ever contract, an HK$88.5 million (~$11.3 million) smart hospital security project in Hong Kong with initial revenue expected in Q4 2025, plus a debt-free balance sheet.
The company also secured its largest contract ever, an HK$88.5 million (~$11.3 million) smart hospital security project in HongKong, with initial revenue expected to be recognized in Q4 2025.
DRCT — LONG The author calls Direct Digital Holdings an extreme squeeze candidate with short interest at 389.44% of float, a 64.38% off-exchange short volume ratio and borrow costs reportedly trending higher. He argues the company's programmatic advertising platform is driving strong revenue growth across underserved multicultural and mid-tier media markets, and that it reaffirmed full-year revenue guidance of $100M+, up significantly from prior years.
This exceptionally high short interest relative to float places DRCT in extreme squeeze territory, especially as available shares are limited and borrow costs have reportedly trended higher.