Post by
Nordico on Sep 01, 2024 5:31pm
New short data: AC still most shorted Canadian company
New short data out for end of August. AC still by far the most shorted Canadian company (small to large cap), with 31% of float sold short (up from 26% in late July). Gonna be a big squeeze once the labour impasse resolves this month.
https://www.theglobeandmail.com/investing/markets/inside-the-market/article-short-sales-on-the-tsx-what-bearish-investors-are-betting-against-62/
Note the data source - S3 Partners - includes shares traded on foreign markets (mainly U.S.). CIRO reporting only includes self-reported short positions from Canadian institutions.
Comment by
jjwilson on Sep 01, 2024 7:26pm
What do they know (or think they know) that we don't?
Comment by
Nordico on Sep 02, 2024 1:19am
Nothing. It's heavily shorted because no buyback program to defend the valuation, and of course the labour impasse that will likely go on for another 2 and a half weeks. Resolving either or both of these matters will decrease the float-short % significantly.