Hottest Short Stocks As Of November 19thThe Acquirer's Multiple
S3 Partners recently released its hottest short stocks as of November 19th. The top three stocks include:
- Peloton Interactive (NASDAQ: PTON) with over 84% short interest % of float
- Gamestop Corp (NYSE: GME) with almost 80% short interest % of float
- Health Insurance Innovations (NASDAQ: HIIQ) with over 70% short interest % of float
The list includes twenty five stocks. All of which have a short interest % of float above 45%. Here’s an excerpt from the article:
Besides their cost, some shorts are very crowded and difficult to get into. Most of these stocks are long-time shorts, but due to their high SI % of Float there is a very small chance that there will any significant amount of additional short selling in these stocks due to lack of stock loan supply. Any compelling downward price movement in these stocks will be due to long selling and not short selling. Peloton Interactive tops the list for the second week in a row with over 84% short interest % of Float. PTON SI % Float has been over 80% for three weeks as shares shorted have increased by 6.3 million shares, +23%, over the last month even though its stock price has risen +24%.
Short Interest as a % of Float: The total number of shares shorted divided by the company’s float. SI % of Float usually tops out at the 40% to 60% range due to lendability constraints.
The U.S. traded stocks with the highest Short Interest as a % of Float (minimum short interest $50 mm):
(Source: S3 Partners)
Michael Burry Recently Purchased 3,000,000 Shares Of Gamestop
Coincidentally, according to his latest 13F, Michael Burry recently purchased 3,000,000 shares of Gamestop at a value of $16,560,000. Making it the largest position in his portfolio at 27.78%.
GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. GameStop sells new and second-hand video game hardware, physical and digital video game software, and video game accessories, mainly through GameStop, EB Games, and Micromania stores and international e-commerce sites, including www.gamestop.com, www.ebgames.com.au, and www.micromania.fr. The company has two main business segments: Video game brands and Technology brands. The technology brands segment sells wireless products and services and operates Spring Mobile managed AT&T and Cricket Wireless branded stores, along with the Simply Mac business.
Over the past twelve months the company’s share price has dropped over 60% to $5.66. This same stock once traded at around $55 back in October 2013.
You can read the original article here: S3 Partners: Hottest Short Stocks As Of November 19th.
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Article by The Acquirer’s Multiple