E Most Reddit High Short-Interest Stocks Remain Above Their Pre-Squeeze Levels

The 29 Reddit stocks I follow that have short interests in excess of 30% (see previous TalkMarkets article here) remained 36% above pre-squeeze levels, on average, with just one exception and 18 of the stocks actually increased in price from the previous week. This article takes a look at the short interest stock activity this past week.

The major decliners last week were as follows.

  1. KOSS (KOSS) was down 26% for the week but it is still up 410% from when the short squeeze really started in earnest just a month ago (January 15th)
  2. GameStop (GME) was down 18% for the week but it is still up 48% from January 15th
  3. Clovis Oncology (CLVS) was down 16% but is still up 42% from January 15th
  4. Ligand Pharma (LGND) was down 15% but is still up 40% from January 15th
  5. Esperion Therapeutics (ESPR) was down 12% but is still up 17% from January 15th

Another way to look at how the high short interest stocks are doing is to track those short interest stocks that have continued to increase in price and, in doing so, remain thorns in the side of the short-sellers. The major advancers last week were:

  1. Naked Brand (NAKD) +31% 
  2. Accelerate Diagnostics (AXDX+27%
  3. Car Parts.com (PRTS+22%
  4. Sun Power (SPWR) +19% 
  5. Fulgent Genetics (FLGT+14% 
  6. iRobot (IRBT) +12%
  7. Vaxart (VXRT) +10% 

Only one of the remaining 17 high net short stocks, Macerich (MAC), is currently down slightly from where it was a month ago with the other 16 stocks only changing in price by +/-10% since then. 

Selling could continue in many of these names through the coming week but the buying support this past week suggests that we are unlikely to see the majority of the high short interest level stocks move down quickly to what Wall Street would consider a fair valuation.

(For more extensive financial information, charts, news releases and articles, and up-to-the-minute stock prices click on the stock symbols provided by TalkMarkets.)

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William K. 3 months ago Member's comment

Quite interesting, but what do you suppose this means? And why is it happening?