Vuzix Corporation VUZI 3.01% shares were soaring higher by more than 7.5 percent on Wednesday on extremely heavy volume. Without any major news from the company, the surge may be the result of a short squeeze.
Vuzix is a supplier of wearable virtual reality and augmented reality display technology. According to shortsqueeze.com, Vuzix currently has an extremely high short percent of float at 18.5 percent.
Short squeezes and potential short squeezes have drawn a lot of attention in recent weeks following the incredible squeeze in shipping stock DryShips Inc. DRYS 9.67%. The shocking squeeze sent shares of DryShips from below $4 to above $100 and then back below $7 within a matter of days.
Vuzix could be the next under-the-radar short squeeze candidate.
This week, FIS’ Astec Analytics named Tesla Motors Inc TSLA 0.27%, International Business Machines Corp. IBM 0.85%, Acacia Communications, Inc. ACIA 6.52%, Fitbit Inc FIT 1.29% and Twilio Inc TWLO 3.48% the most popular stocks among short sellers in today’s market.
Vuzix’s setup is…
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