Potential short squeeze plays gained steam in 2021, with new retail traders looking for the next huge move.

A short squeeze can occur when a heavily shorted stock rises in value instead of falling. Short sellers could be looking to close out their position and can face a loss if they have to buy back the shares they initially borrowed at a higher price.

A squeeze can occur when short sellers are forced into buying to cover their position, which can cause shares to move up higher on many occasions.

Fintel Data: Data from Fintel, which requires a subscription, provides a look at several of the top shorted stocks and data on how likely a short squeeze is to occur.

Here's a look at Fintel's top five short squeeze candidates for the week of June 27.
Movie rental and streaming company Redbox Entertainment (NASDAQ:RDBX) tops the short squeeze leaderboard. No stranger to the top five positions, Redbox was not in last week's top five candidates and rejoins the leaderboard in first place. Data from Fintel shows 103.5% of the float short and a cost to borrow of 1,004.8%, one of the highest on record. Redbox is being acquired by Chicken Soup for the Soul Entertainment (NASDAQ:CSSE) in a deal that currently values the company at 68 cents versus a current share price of $9.31.

Redbox Entertainment:

Pennsylvania Real Estate Investment Trust: Mall owner Pennsylvania Real Estate Investment Trust (NYSE:PEI) makes the biggest jump on the leaderboard, moving up 376 spots to second place. The company underwent a reverse stock split last week. Data from Fintel shows 365.6% of the float short and a cost to borrow of 10.0%.

Related Link: 5 Short Squeeze Candidates To Watch This Week: Revlon Tops The List After Bankruptcy 

Revlon: Cosmetics company Revlon Inc (NYSE:REV) ranks third on the leaderboard for the week after topping the list last week. Data from Fintel shows 37.3% of the float short, in line with last week's total. The cost to borrow on shares is 300.4%, an increase from last week's 171.8%. The company declared bankruptcy last week and has been a popular trading idea for investors, with the potential of another company rescuing Revlon have kept shares from going to $0.

MSP Recovery Inc: Healthcare recoveries and data analytics company MSP Recovery Inc (NASDAQ:MSPR) joins the leaderboard, ranking fourth. Data from Fintel shows 27.6% of the float short and a cost to borrow of 53.1%. The company went public via SPAC merger and saw shares fall immediately after the merger, with shares trading between $0.94 and $5.89 since changing to the new ticker and name.

Chicken Soup for the Soul Entertainment: Video-on-demand company Chicken Soup for the Soul Entertainment (NASDAQ:CSSE) joins the top five short squeeze candidates, moving up eight positions to fifth place for the week. Data shows 24.9% of the float short and a cost to borrow of 62.5%. Benzinga highlighted the potential of the stock moving up the leaderboard recently with high short interest and a rising cost to borrow.