Watch out above - these highly-shorted stocks are pushing higher
Jan. 22, 2024 11:54 AM ET
By: Clark Schultz, SA News Editor
26 Comments
 TERADAT SANTIVIVUT
A number of stocks in the consumer sector with a high level of short interest outstanding on them are making gains on Monday.
The headliner by far is Fisker (NYSE: FSR), with a 28% pop on news that the electric vehicle maker struck a deal with an institutional investor. FSR was up more than 40% earlier in the session. Spirit Airlines (NYSE: SAVE) is also up 10.5% amid a flurry of speculation over the airline company's merger with JetBlue Airways ( JBLU). Late on Friday, Spirit Airlines ( SAVE) and JetBlue ( JBLU) filed an appeal after a federal judge blocked the airlines' combination earlier in the week. The airlines jointly filed a notice of appeal to the U.S. Court of Appeals for the First Circuit, consistent with the requirements of the merger agreement.
Other highly-shorted stocks making strong moves in late morning trading on Monday, included Plug Power ( PLUG) +4.1%, Mondee Holdings ( MOND) +14.4%, Vroom ( VRM) +16.0%, Li-Cycle Holdings ( LICY) +15.7%, Beauty Health Company ( SKIN) +10.5%, Big Lots ( BIG) +5.2%, Joby Aviation ( JOBY) +4.8%, Carvana ( CVNA) +7.8%, WW International ( WW) +5.9%, Wayfair (NYSE: W) +5.9%, and Peloton Interactive ( PTON) +5.5%.
Last week, S3 Partners reported on the ten stocks with the highest stock borrow rates that have short interest outstanding of over $25M. That list included VinFast Auto ( VFS), Beyond Meat ( BYND), B. Riley Financial ( RILY), Freedom Holding ( FRHC), Cassava Sciences ( SAVA), Sirius XM Holdings ( SIRI), Immunitybio ( IBRX), Global Partners ( GLP), Soleno Therapeutics ( SLNO), and Hut 8 Corp. ( HUT). |
