True Religion Apparel ( TRLG) is by far the smallest of the apparel short squeeze plays on this list -- with a market cap of $684 million, this firm is several times smaller than its closest peer -- but this jeans company is significantly larger than its penny stock beginnings would have suggested. The company now boasts nearly a thousand retail locations worldwide and an enviable chunk of a very premium market; investors should be keeping a close eye on this stock's potential. Not only is True Religion one of the smallest stocks on this list -- it's also one of the youngest. The company was founded in late 2002 as a premium denim brand. And with the average cost of a pair of True Religion jeans ringing in at over $200, this stock's niche is certainly unique. Related: 20 Risky Retailers Not surprisingly, True Religion got hit hard at the depth of the recession as discretionary spending on $200 jeans got pummeled as a growing aspirational consumer had to cut up the credit cards and trade down. Now, though, the company is seeing impressive revenue growth as consumer spending comes back into the fold. With a short ratio of 14.4, it would take nearly three weeks for short-sellers to cover their positions at current volume levels. Earnings on April 28 could be a good catalyst for a squeeze if investors are willing to take on the added risk of a pre-earnings purchase.