• The TAIEX is up 65% YTD, including 4% MTD. Twenty-one stocks, 2% of the market, have squeeze scores at or above our key level of 70, with an average MTD gain of 21%, more than five times the index return.

• The squeeze scores are driven mostly by rising prices, which have created losses for short sellers. Short interest has also added to the scores in most names, with the average percent of float rising from 6.4% to 7.9%.

• Three stocks show the classic squeeze pattern, with short interest falling significantly as their stock prices rose: Jentech (3653), Allied Supreme (4770) and BizLink (3665).

• The TAIEX is up 65% YTD but only 4% MTD. Despite this, 21 stocks, or roughly 2% of the market, now score at or above our 70 key level.

• The 21 stocks’ crowding scores average 44, well below their average squeeze score of 77, so the squeeze risk isn’t from the crowding. It reflects strong price momentum: the group has returned an average of 21% MTD and 83% YTD.

• The scores are elevated mainly because share prices have risen. Short interest has also increased, adding to the scores.

• The group is concentrated in the Technology (8 names) and Industrial (7 names) sectors.

• Short interest is higher across most names, rising in 17 of the 21 stocks this month.

• Only three saw a significant decline in short interest: 3653 Jentech Precision (stock +15.5% MTD, short interest −37%), 4770 Allied Supreme (+32.5%, −24%) and 3665 BizLink Holding (+7.8%, −11%).

• In all three cases, declining short interest alongside rising share prices is consistent with short covering, the hallmark of a short squeeze.

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The information herein (some of which has been obtained from third party sources without verification) is believed by S3 Partners, LLC (“S3 Partners”) to be reliable and accurate. Neither S3 Partners nor any of its affiliates makes any representation as to the accuracy or completeness of the information herein or accepts liability arising from its use. Prior to making any decisions based on the information herein, you should determine, without reliance upon S3 Partners, the economic risks, and merits, as well as the legal, tax, accounting, and investment consequences, of such decisions.