The first few days of February saw a rally in the major market averages (DJI) (SP500) (COMP.IND), adding to gains posted in the first month of the year. However, even with sentiment improved in the early stages of 2023, many high-profile companies continue to receive broad-based skepticism from traders.
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Short interest remains high for stocks like Carvana Co. (CVNA), Beyond Meat (NASDAQ:BYND) and Bed Bath & Beyond (NASDAQ:BBBY) — one-time high-fliers who have come well off their peaks, but still have many on Wall Street betting they can fall further.
For reference, short interest refers to the proportion of shares that have been sold short compared to the number outstanding. Traders and investors typically will use this as a barometer of the current sentiment of a position. A high short interest can also lead to increased volatility, as a sudden move higher can trigger a short-covering frenzy. (Dig deeper on short interest and how to use it.)
Here are the 10 stocks that currently have the highest short interest percentages, according to data on Seeking Alpha:
Top 10 Stocks with Highest Short Interest
No. 10: Beyond Meat (BYND), short interest 38.73%.
No. 9: EVgo (EVGO), short interest 38.73%.
No. 8: Blue Apron Holdings (APRN), short interest 38.93%.
No. 7: Allogene Therapeutics (ALLO), short interest 41.10%.
No. 6: Aerovate Therapeutics (AVTE), short interest 44.12%.
No. 5: Marathon Digital Holdings (NASDAQ:MARA), short interest 44.16%.
No. 4: Bed Bath & Beyond (BBBY), short interest 46.24%.
No. 3: Ring Energy (NYSE:REI), short interest 49.95%.
No. 2: Carvana Co. (CVNA), short interest 65.43%.
No. 1: Silvergate Capital (SI), short interest 70.16%.
In other top 10 lists, see which exchange traded funds garnered the most significant capital over the course of January.