10 Largest Short Positions In NASDAQ Shocks
June 27, 2016 by Douglas A. McIntyreThese are the 10 NASDAQ stocks with the largest short positions base on share count for the period that ended June 15.
Sirius XM Holdings Inc. (NASDAQ: SIRI) almost always tops the NASDAQ list, to some extent because of the massive number of shares it has outstanding. Short interest in its shares rose nominally to 202,535,588.
Shares in embattled telecom Frontier Communications Corp. (NASDAQ: FTR) rose 9.7% to 156,739,659.
The short interest in recovering chip company Advanced Micro Devices Inc. (NASDAQ: AMD) fell 8.4% to 83,662,323. It has recently launched chips which take it out of the shadow of larger rival Intel.
Shares sold short in biopharma MannKind Corp. (NASDAQ:MNKD) dropped 5.9% to 81,398,362. Its shares are down 78% in the last year.
Shares sold short in chip giant Intel Corp. (NASDAQ: INTC) dropped 3.7% to 75,585,961.
Short shares in regional bank Huntington Bancshares Inc. (NASDAQ: HBAN) dropped 2.5% to 68,156,026.
The short interest in biopharma Novavax Inc. (NASDAQ: NVAX) rose 2.5% to 65,877,329.
Shares of the old tech Micron Technology Inc. (NASDAQ: MU) rose 1.9% to 63,693,625.
Shares short in Apple (NASDAQ: AAPL) plunged 36.9% to 62,924,036.
Shares short in hotel firm Marriott International Inc. (NASDAQ: MAR) rose 2.9% to 60,490,611.
Other notable changes include:
Shares short in Netflix Inc. (NASDAQ: NFLX) dropped 6.7% to 36,389,827.
Shares short in Groupon Inc. (NASDAQ: GRPN) were flat at 52,312,904.
Shares in American Airlines Group Inc. (NASDAQ: AAL) dropped 6.2% to 39,496,967.
Shares sold short in Elon Musk’s electric car company Tesla Motors Inc. (NASDAQ: TSLA) were flat at 28,672,145. Shares sold short in its takeover target SolarCity Corp.(NASDAQ: SCTY) were up 4.3% to 27,211,313
Definition from Wall Street Journal: “Short” shares are borrowed and then sold in the hope that the share price will fall before the borrowed shares have to be purchased and replaced. A high level of short interest could indicate that a share price is ready to fall, but can also be a hedge, or counterbet, for an investor who has gone “long,” or bought a lot shares of a company thinking that the share price will rise.
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