The 6 Most Shorted NYSE Stocks
Alibaba Group Holding Ltd. (NYSE: BABA) saw the number of its shares short dwindle more than 1% from the end of July, on top of a 4% decline in the previous period. And note that the more than 132.97 million shares reported totaled 5.2% of the Chinese e-commerce giant’s float. The daily average volume increased during the period, so the days to cover decreased from around 12 to about nine.
Alibaba posted strong quarterly results after the latest short interest period concluded. The share price rose almost 2% in the first half of August, despite being down about 2% at one point in the interval. It closed most recently at $175.00. That is more than 99% higher year to date. The 52-week low of $86.01 was seen last December, and the 52-week high of $177.00 this past week.
The number of Rite Aid Corp. (NYSE: RAD) shares short increased sharply again in the first two weeks of this month, though it did not rise any higher on the list. Almost 125.70 million shares were short, after a rise of almost 9% by the latest settlement date. That represented 12.0% of the retailer’s total float. But the average daily trading volume fell to a 52-week low in the period, pushing up the days to cover to more than seven.
The stock has suffered since the merger deal with Walgreens turned sour. Though its shares ended the two-week period around 3% higher, they are currently down more than 72% since the beginning of the year. The stock closed most recently at $2.26 a share, which is just above the 52-week low of $2.21. Rite Aid shares hit a 52-week high of $8.77 early in the year.
After four periods in a row of short sellers shying away Ford Motor Co. (NYSE: F). The latest period saw an increase in short interest of almost 7%, bringing the reported number of shares short to more than 122.13 million. That represents 3.1% of the total float, and it was the 10th time this year that short interest was more than 100 million shares. It would take four days to cover all short positions, as of the latest settlement date.
Ford was one of the great American companies that have lost control of their narrative. Its share price ended the latest settlement period down around 3%. The stock has retreated more since then, and shares closed most recently at $10.71. That is more than 14% lower than six months ago. The shares have changed hands between $10.47 and $13.27 apiece in the past year.
And the Rest
Rounding out the top 10 were J.C. Penney Co. Inc. (NYSE: JCP), CenturyLink Inc. (NYSE: CTL), General Electric Co. (NYSE: GE) and Sprint Corp. (NYSE: S). Here again, the short interest moves were mixed and relatively modest. J.C. Penney led the upswings with a percentage gain almost as great as that of Ford.
Also of note, Bank of America Corp. (NYSE: BAC) lingers just beyond the list of the top 10 most shorted NYSE stocks, while a notable reduction in the number of Pandora Media Inc. (NYSE: P) shares short helped it drop even further outside the top 10.