Baytex Energy Corp T.BTE

Very excited for next week's report! Go BTE

[BayStreetWolfTO]

Short selling will eventually need to be covered...report coming just before Q2 results next week. Can't wait!

Short selling will eventually need to be covered this will add additional pressure upwards for the price.

They are running out of time

Short selling analysis BTE et al

Reference https://www.iiroc.ca/industry/marketmonitoringanalysis/Pages/consolidated-short-position-report.aspx

https://www.tsx.com/

For perspective I do feel shorting has a purpose. For those curious feel free to read this....
https://www.investopedia.com/terms/s/shortselling.asp

That said I would like to see the short % drop and feel this is a nice upside data point for the company.

Here is some perspective and it's not just BTE there are other mid/small cap oil impacted but others less so.

Stock/Short%

First for data point a couple large caps.
Imperial Oil 0.7%
Canadian Natural resources 0.9%
Suncor 0.8%
Cenovus 0.8%
So as you can see many companies have a shirt position.

While results with mostly drive BTE short position is a positive data point

Stock/Short%

Baytex 4.5%

But they are not the only ones.. mid and small cap have felt pressure on those betting against them.

Crescent Point 3.9%
Birchcliff 3.8%
Vermilion 3.0%

However if BTE can get back to say

Stock/Short%

Whitecap 0.6%
MEG 1.1%
Tourmaline 1.0%

This gives Baytex good pricing torque with WTI driving up

[OilManiac]

This is Canada and those short positions can stay forever as there's no borrowing cost other than lost opportunity.  Banks hold short most of these shares and they don't panic so I don't see a short squeeze but would be nice for sure.

[topdown99]

I don't know about that one OilManiac . Banks don't panic , I'll agree with that but eventually a loosing short needs to be dealt with whether they're passing it from one fund to the other or raiding retail investor accounts . This isn't China where you can ignore a loss and then "poof" it no longer exists . It makes more sense to clear the position and reestablish