• May 11, 2021
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  • Short Sellers Are Back in Cannabis Stocks After Retail Mania

    LinkedIn

    Short sellers are again betting cannabis stocks will fall after retail investors squeezed their positions out in the Reddit-fueled trading frenzy.

    Overall short interest in the 119 U.S. and Canadian cannabis stocks tracked by S3 Partners increased by $346 million to $3.14 billion over the last 30 days, according to a report dated April 29, though that was still $288 million shy from the level when the year started. The short interest as a percentage of float has been up in almost every cannabis stock in the past month, S3 said.

    About 98% of short interest in the pot sector was concentrated in 20 stocks. Aphria Inc., Canopy Growth Corp. and Aurora Cannabis Inc. were the most shorted over the last 30 days, while Aurora and Tilray Inc. ranked among the highest in total short interest as a percentage of float at 23.41% and 19.95%, respectively.

    Read full article here: https://www.bloomberg.com/news/articles/2021-04-30/short-sellers-are-back-in-cannabis-stocks-after-retail-mania

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