Bearish Bets: Short interest remains high among unprofitable tech, lithium and reporting season losers
Source: iStock
Mentioned
KEY POINTS
- The top 10 most shorted stocks sees three new stocks but thematically unchanged
- Stocks that missed earnings in the last week of Feb/early March see an uptick in shorts
Welcome back to the Short Seller Series – where we take a look at some of the most shorted stocks in the ASX and those that have experienced a notable rise/fall in shorts.
Themes from the previous series on 6 March remain mostly intact such as high short interest among unprofitable tech, lithium and reporting season losers.
The data will reference short interest changes between 6-20 March.
The Most Shorted Stocks
City Chic, Lake Resources and Vulcan Energy moved out of the top 10 most shorted stocks and were replaced by JB Hi-Fi, NextDC and Brainchip.
Short interest in City Chic made the most notable decline, down from 7.3% to 4.95%.
Stocks seeing a rise in shorts
These are the stocks that have experienced the largest percentage increase in short interest since Monday, 6 March. It's interesting to note that the top three – Bravura Solutions, Downer and Invocare – all tumbled at least 10% following the release of half-year results during the February reporting season.
Short are easing across these stocks
There's a little bit of relief coming through for highly shorted names like City Chic, Betmakers and Sayona. But at face value, short interest remains high for these lithium and unprofitable tech names.
