Investing

The 6 Most Shorted Nasdaq Stocks: Apple Roller-Coaster Continues

By the middle of the month, Advanced Micro Devices Inc. (NASDAQ: AMD) had more than 116.61 million shares short, which was up from 113.25 million two-weeks earlier. The most recent reading totaled 18.1% of the company’s float. The days to cover slipped to around 15 as the average daily volume continued to grow. AMD is expected to benefit from advances in virtual reality. The share price finished the two-week period up less than 4%, but it has surged around 17% in the past week. The stock closed most recently at $2.92, and the 52-week range is $1.61 to $3.37.

MannKind Corp.’s (NASDAQ: MNKD) short interest, at around 111.52 million shares as of December 15, was up about 3% from the prior settlement date, when the fewest shares were short since April. The most recent reading was 43.6% of the total float, and the days to cover was about 19. Short sellers watched the share price tumble more than 31% in early December. It is now down more than 70% year to date to $1.53, and hit a multiyear low of $1.38 recently. The 52-week high of $7.88 was from last February.

More than 95.22 million Intel Corp. (NASDAQ: INTC) shares were sold short as of the most recent settlement date. That was more than 7% higher than at the start of the period, it totaled 2.0% of the company’s float and it was the third period in a row of short interest of less than 100 million. It would take more than four days to cover all short positions. Intel is a top dividend pick at Merrill Lynch, but it ended the two-week period less than 2% higher. Shares closed most recently at $34.98, down less than 3% year to date. The stock has traded between $24.87 and $37.74 per share in the past year.


BlackBerry Ltd. (NASDAQ: BBRY) short interest has lingered at less than 80 million since September, and the latest reading landed at more than 77.87 million, after slipping about 1% in early December. That was 18.1% of the company’s total float, and it would take about 11 days to cover all short positions, down from more than 16 in the previous period. BlackBerry posted better than expected quarterly results during the period, and short sellers watched the stock rise more than 4% but give up almost all that gain during the two weeks. Shares ended last week at $9.10, in a 52-week range of $5.96 to $12.63.

Rounding out the top 10 were Apple Inc. (NASDAQ: AAPL), Groupon Inc. (NASDAQ: GRPN), Mattel Inc. (NASDAQ: MAT) and Mylan Inc. (NASDAQ: MYL). As mentioned, the big mover here was Apple, with a more than 31% drop in the number of its shares held short. But short interest in Mattel shrank by 10% as well. And note that if short sellers continue to move on Yahoo! Inc. (NASDAQ: YHOO), it may show up among the top 10 shorted Nasdaq stocks before long.

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