FIS Astec Analytics released its latest weekly list of the most popular stocks among short sellers. This week’s list contains two popular movie theater chains and a high-profile 2017 IPO.
Here’s a rundown of this week’s hottest stocks among short sellers.
Top Pick: Regal Entertainment Group
Oddly enough, FIS Astec reported short sellers ramped up their bearish bets against Regal Entertainment Group RGC, which jumped more than 9 percent on Tuesday after Cineworld announced a $23 per-share buyout bid for Regal. It looks like a lot of shorts got burned on this play, assuming the deal is approved by shareholders and regulators.
Roku, Inc. ROKU utilization briefly dropped as low as 32 percent after a new batch of borrowable shares hit the market early last week. However, short sellers were eager to snatch them up, and FIS Astec reported short interest was back up to 89 percent of available shares by week’s end.
In-flight connectivity company GOGO, Inc. GOGO flirted with the maximum 100 percent utilization rate for two days of the week before finishing the week at 99 percent. Even with borrowing costs tripling during the seven-day stretch, short sellers weren't deterred.
3. Accelerate Diagnostics
Accelerate Diagnostics Inc AXDX earned its spot on the top shorts list for the second week in a row. Despite a 14 percent decline in short interest volume on the week, the stock’s utilization rate remains an elevated 87 percent.
4. AMC Entertainment
Perhaps AMC Entertainment Holdings Inc AMC short sellers were also betting that a Regal buyout wouldn’t happen and AMC would trade lower in sympathy. Whatever the reason, FIS Astec reported a 9 percent uptick in utilization, which ended the week at 84 percent.
5. 3D Systems
3D Systems Corporation DDD has been a regular on the hot shorts list all year and has been one of the most profitable stocks for short sellers in recent years. 3D Systems shares are down 27.7 percent year-to-date and more than 70 percent in the past three years, but FIS Astec reports that short sellers see more downside ahead of the battered 3D printing stock.
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