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Buzzing Trends. Today we will be looking at the seven most shorted ASX shares
but first lets briefly understand what shorted shares are.
Investors use short position reports of ASX-listed securities, which are published by the Australian
Securities and Investments Commission regularly, to devise their market strategies. The data, which
is updated daily by the ASIC, gives an idea about the short interest levels of different stocks.
A stock with high short levels is generally seen to be struggling with some problems and
vice versa. Hence, investors keep a close eye on these levels and strategise accordingly. Well, on
that note, here are the seven most shorted shares on the ASX this week according to the ASIC.
First up. Flight Centre Travel Group. The travel stock is once again the most shorted
ASX share. The stock’s short interest rose marginally week-on-week by 18.1%. However,
travel stocks have flourished in the past few weeks on an improved outlook. Flight
Centre Travel Group stock is currently trading at AU$21.71 up by 1.59%
Next. BetMakers Technology Group.
The betting firm’s short interest eased to 11.2%. The short interest of the stock has
surged recently on concerns over its valuation and cash burn. BetMakers Technology Group
stock is currently on a trading halt, it closed at AU$0.64 yesterday.
Next shorted ASX stock this week is
Nanosonics. The medical device company’s short interest came down week-on-week to 10.4%.
The stock is on short sellers’ radar ever since the company announced a major change to its sales
and distribution model in the US. Nanosonics stock is currently trading at AU$3.97 up by 1.79%.
Moving on to EML Payments. The tech firm’s short interest soared marginally
to 9.5%. The stock seems to be on short sellers’ focus on account of its regulatory
risks and valuation concerns. EML Payments stock is currently trading at AU$2.86 down by 0.69%.
Next shorted ASX stock this week is Webjet. The travel stock’s short interest stands at 8.8%,
down sharply week on week. The stock was on short sellers’ focus earlier,
but things seem to be improving now. Webjet stock is currently trading at AU$5.89 up by 1.38%.
Next up Polynovo. The medical device company’s short interest eased to 8%. However,
the stock may do well going ahead following the release of a robust trading update by the
company earlier this month. Polynovo stock is currently trading at AU$1.12 up by 0.90%.
And lastly, one of the most shorted ASX stock this week is Zip.
The buy-now-pay-later firm’s short interest eased to 8%. Investors have sold Zip shares
following negative sentiment across the tech industry. The rise in inflation has also not
helped the cause of tech stocks. Zip stock is currently trading at AU$ 1.22 down by 2.00%.
And that’s all for now. Hope you found our today’s topic - the seven
most shorted shares on the ASX this week according to the ASIC – interesting.
We will be back with our Buzzing Trends show tomorrow to share the
latest market insights with you. Till then,
Stay tuned with Kalkine TV for more stock, business and economy related hot trends.