Plug Power, Nvidia, Grab, Ford, Opendoor Most Shorted Stocks
Plug Power, $NVIDIA(NVDA)$
$Plug Power(PLUG)$
That bolstered the case for short sellers. The analysts also noted the persistent uncertainty in the hydrogen market, as they lowered the price target to $2.50, from $3.50, Bloomberg reported.
Plug Power's short interest, the tally of borrowed shares sold short that haven't been closed, stood at 310.6 million shares at the end of October, according to the latest available exchange data. While that's down 331.4 million in the previous two weeks, the total is still the highest among stocks tracked.
Meanwhile, $NVIDIA (NVDA.US)$ shares retreated 1.8% Monday amid growing debate over a potential bubble brewing in artificial intelligence (AI) infrastructure, the main engine growth that has fueled the stock's 279% rally since the end of 2023.
Its short interest rose to 238.6 million shares by the end of October, from almost 211 million shares in the middle of last month, pitting themselves against the bulls who have profited from the surge in the share price. Since the end of October, the stock has fallen 7.9% weighed down in part by short sellers.
While Nvidia ranks as the second most shorted stock by the number of shares, the short interest represent less than 1% of the total shares.
On Friday, the stock rebounded 1.8%, trimming this month's decline as trading volume of the shorted stocks slipped to 15.2 million shares from 17.84 million shares last Thursday.
$Opendoor Technologies (OPEN.US)$'s short volume rose 3.1 million to almost 22 million shares Friday, the biggest among stocks with a market capital of more than $5 billion.
$Grab Holdings (GRAB.US)$, $Ford Motor (F.US)$, $Medical Properties Trust Inc (MPW.US)$, $NIO Inc (NIO.US)$, $Rivian Automotive (RIVN.US)$, $Infosys (INFY.US)$ and $Aurora Innovation (AUR.US)$ make up the rest of the 10 stocks with the biggest short interest.
Below are other notable changes in short volume Friday, including the increase in trading of shorted $Palantir (PLTR.US)$ shares of 1.69 million:
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