The 10 major shorts in the Cannabis sector, which make up over 95% of all shorts in the sector, were down $28 million in mark-to-market losses today, bringing year-to-date losses to $1.02 billion.
While short interest increased by $908 million in January, it was mostly due to stock price increase and not increased short selling.
In January, we saw increased short selling in Canopy Growth (+6%); Aurora Cannabis (+7%) and Organigram (+18%) while we saw buy to covers in Tilray (-9%) and Aphria (-24%).
Short Interest as % of Float has increased for most of top shorted Cannabis names, except for Tilray and Aphria.
Want deeper insight into the above analysis?
Contact: Ihor.Dusaniwsky@S3Partners.net
Managing Director Predictive Analytics, S3 Partners, LLC
For more information on S3’s reporting, data and analytics solutions, email us at sales@s3partners.net. Start your free trial of the BLACK App – the only source of real-time short interest on the Bloomberg Terminal or Thomson Reuters Eikon.
For short side data and access to our research reports go to https://shortsight.com/ .
