Happy Tuesday Zingers! If you thought that the short-squeeze hunters were squeezed out of the market, think again. In fact, some investors think we’re in for a Short King Spring.

High short-interest stocks like Upstart, Carvana and Beyond Meat caught fire toward the end of 2023, reattracting the attention of thousands of retail investors. I’m just hoping the women that I meet out also have outweighed short-interest.

Today’s Price Action:

$SPY: +.29%
$QQQ: +.41%
$DIA: -.27%

Also, learn how to use your money to make even more money.

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TODAY’S MOST VOLATILE STOCKS

ONE TOP MOVER

Why Alibaba Shot Higher Today

Briefly: Sometimes a beaten-down stock doesn’t need a positive catalyst to start moving higher. It needs two.

So Basically: Overnight, China announced a “stock market rescue package” worth nearly $280 billion. $BABA traded slightly higher on the news.

But Then: A second catalyst hit the wire. Jack Ma and his co-founder are reportedly buying $200 million worth of shares of $BABA as the stock sits at 5-year lows.

So What? In response, traders rushed out to scoop up shares, sending the stock higher by more than 7%.

What Next: $BABA wasn’t the only Chinese stock going gaga. Read more here.

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FIVE MOVERS

Phunware stock continued to move higher today, closing up nearly 20% as traders continue to flock to the Trump-affiliated stock.

Plug Power stock closed up more than 30% on good news regarding a $1.6 billion government loan.

Spirit Airlines shares moved higher today alongside other airline stocks after United posted better-than-expected earnings.

Netflix stock streamed higher after the close following the company’s strong earnings result and positive guidance.

FaZe Holding stock closed up nearly 100% on the day after the company announced a multimillion-dollar e-sports sponsorship deal.

ONE TRADE IDEA FOR TOMORROW

Analysts Are Rooting For These Chip Stocks — And, No, Not NVIDIA Or AMD

Briefly: NVIDIA and AMD have in large part led the market’s surge in the last year. But they’re not the only chipmakers benefiting from the AI boom.

What: Some analysts are bullish on smaller chip names that could benefit from NVIDIA and AMD’s recent success. A tide ride is good for all boats, or something like that.

Who: Citi analyst Christopher Danely likes other chip names, including Micron and On Semiconductor. He reiterated the former as his top pick, as he expects a 50% year-on-year increase in DRAM pricing in 2024.

What Next: To check out Danely’s full list of chip stocks, click here.

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