Oklo Short Sellers Retreat, Ondas Short Volume Doubles, APLD's Rises

$Oklo Inc.(OKLO)$   short sellers retreated a day before the stock climbed more than 10%, buoyed by news that $Meta Platforms, Inc.(META)$   agreed to prepay for power and provide funding for the nuclear technology company's power project. 

The nuclear technology company saw those trading activities decline for a third straight session Thursday, as the stock climbed 56% just in the first six sessions of 2026. Shorting the stock has been a challenging trade after the shares surged 344%. 

The stock opened 17% higher Friday after Wall Street cheered the agreement with $Meta Platforms (META.US)$ that helps advance the nuclear technology company's plans to build 1.2 gigawatt power project in Ohio to support the social media giant's data centers. 

Meanwhile, trading in borrowed $Ondas Holdings Inc.(ONDS)$   that were sold short more than doubled to 12.09 million shares Thursday from 4.95 million shares Wednesday. 

Shares gained more than 3% Friday, extending its more than 800% rally in the past three years. The rally came as the company that provides AI-powered defense and security platforms saw its revenue more than triple over that period. 

Short sellers jumped into action as Ondas' stock climbed Thursday to its highest level in almost five years after President Donald Trump's social media post that he wants to raise the U.S. military's budget to $1.5 trillion. That further boosted the financial prospects of a company that just days ago announced a $10 million order that includes solutions for critical infrastructure operators, integrated autonomous drone systems, and robotic ground platforms for government security customers. 

Despite its accelerating revenue growth, Ondas remains unprofitable, although its loss has narrowed to 3 cents a share in the third quarter, from 15 cents three years earlier. While revenue jumped 582% in that latest quarter, it's just $10.1 million.

That size of its revenue and the parabolic rise in the share price made Ondas an attractive target of short sellers wagering that the dizzying rally it has witnessed could unravel. As of mid-December, its short interest, or the tally of shorted shares that haven't been closed, stood at 78.94 million shares, an almost six-fold jump in just two months. 

$APPLIED DIGITAL CORP(APLD)$  's short volume climbed to 12.3 million shares Thursday from 7.52 million shares a day earlier, as the stock jumped, strengthening the case for short sellers to buy back the shares they sold short. The stock surged another 14% Friday, as Wall Street cheered the blowout fiscal second quarter results reported by the developer and operator of next-gen digital infrastructure.

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