Investing

The 6 Most Shorted Nasdaq Stocks: New King of the Mountain

By the end of the month, Advanced Micro Devices Inc. (NASDAQ: AMD) had more than 131.38 million shares short, which was down more than 4% from the prior settlement date. The most recent reading totaled 20.8% of the company’s float. The days to cover rose to almost 12 as the average daily volume continued to cool from the highs of early summer. At least one analyst still sees big upside potential in AMD shares. The share price ended the two weeks about 1% lower than where it began, though at one point it was down more than 9%. The stock closed at $1.84 on Thursday, and its 52-week range is $1.61 to $4.11.

MannKind Corp.’s (NASDAQ: MNKD) short interest, at around 126.70 million shares as of August 31, was up about 4% from the previous period. Note that was almost half, 48.7%, of the total float. The days to cover rose from more than 21 to about 24. Peak short interest year to date was more than 131 million shares, back in May. Mannkind’s inhaled insulin drug Afrezza moved out of clinical development and into the commercial market recently. The share price decreased more than 13% in late August. It is now down about 28% or so to $3.75, as of Thursday’s close. Shares have changed hands between $3.25 and $7.88 in the past year.

After a drop of around 17% in the previous two periods, short interest in Intel Corp. (NASDAQ: INTC) grew about 2% to about 119.65 million shares short in the latest period. That totaled 2.5% of the company’s float. The days to cover fell to less than three as the average daily volume reached a year-to-date high. Intel has been somewhat immune to recent volatility, ending the two-week period just 2% lower, while the S&P 500 was down more than 5%. The stock is now more than 19% lower year to date and closed most recently at $29.27. Shares have traded between $24.87 and $37.90 in the past year.

ALSO READ: Apple Short Interest Soars

For the first time since June, fewer than 100,000 BlackBerry Ltd. (NASDAQ: BBRY) shares were short, following a more than 10% plunge in the period to almost 92.15 million shares. That was still 17.6% of the total float, and it would take more than 12 days to cover all short positions. The days to cover in the previous period was 21, on a year-to-date low average daily volume. BlackBerry continues to lose market share, and short sellers watched the stock fall more than 10% but mostly recover during the two weeks. Shares closed Thursday at $7.38, in a 52-week range of $6.41 to $12.63.

Rounding out the top 10 were Apple Inc. (NASDAQ: AAPL), Groupon Inc. (NASDAQ: GRPN), Microsoft Corp. (NASDAQ: MSFT) and Express Scripts Holding Co. (NASDAQ: ESRX). Of these, Apple and Microsoft saw double-digit percentage jumps in their shares short, while short sellers retreated from Groupon.

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