Sometimes when coming up with a trading strategy, it is important to follow market indicators on whether you should go long or short on a particular stock. Having things like a stock short report help in these matters. Short selling is precarious, and an investor can easily fall into a short squeeze when the stock starts to gain.
When there is an upward movement in the stock, short sellers can rush to sell, and the subsequent dumping causes the stock price to surge, leaving other sellers in an even tighter situation. This means the short sellers will exit their positions, sometimes making losses and are pushed into buying the borrowed shares. But for regular investors, a short squeeze scenario is great news.
In the past few weeks, there has been significant volatility in the market. According to S3 Partner’s Ihor Dusaniwisky, short sellers have suffered massive losses. The market sentiment has changed, meaning some stocks may start rallying, so short sellers should expect short squeezes. Here is a stock short report to track to keep on top of things:
Stock Short Report to Track: MiMedx Group (OTCPK:MDXG)
MiMedx Group is an emerging therapeutic biologics company that develops and distributes human placental tissue allografts through patent-protected processes for various healthcare sectors. MDXG stock has a short float of 75.44%.
Recently, the company finalized a settlement with the Department of Justice (DOJ) to put an end to a probe involving one of its products regarding the accuracy of pricing disclosures to the Veterans Affairs Department. The product in question is related to the Federal Supply Schedule agreement and a qui tam suit brought against it in Minnesota. Mimedx self-disclosed the issue to the Inspector General’s VA office in 2018 before being made aware of the underlying government probe or the qui tam action. The company will settle the matter by paying $6.5 million to the DOJ.
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On Monday, MDXG stock fell about 3% in the early morning session.
Stock Short Report to Track: ANGI Homeservices (NASDAQ:ANGI)
Since mid-February, ANGI Homeservices stock has surged more 50%; last week alone, it was up 25%. Right now, ANGI stock has a short float of over 45%. ANGI Homeservices is popular in turning imagined home enhancement jobs into well-done jobs. Customers across Europe and North America depend on the company to book home service pros in 500 categories that range from cleaning to remodeling and repairing.
The company recently asked congress to come up with protection and relief measures to offer aid to more than 250,000 businesses in its network. There are around 2 million employees under the network at risk due to the COVID-19 pandemic.
ANGI stock is trading higher by 2%.
Stock Short Report to Track: Buckle Inc. (NYSE:BKE)
Buckle has a stock short float of 35%. The company’s net sales dropped to $41.0 million from a year ago as the coronavirus pandemic takes a toll. The footwear, accessories, and apparel retailer indicated that its net sales for the nine-week period of the first quarter that ended on April 4 saw its sales drop 26.6% to around $104 million.
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Consensus estimates indicated that the company could post $143.2 million in the first quarter, which is a 28.9% drop from last year. Last month, Buckle announced that it was shuttering its physical stores because of the coronavirus. As a result, the company will not provide the same-store monthly sales for the closed stores.
BKE stock fell by 5% to $14.75 in the early hours on Monday.
Stock Short Report to Track: Accelerate Diagnostics Inc. (NASDAQ:AXDX)
Accelerate Diagnostics stock has more than doubled since mid-March, but the stock is still down 48% since the beginning of the year. The stock has a short float of 45.28%. Accelerate develops healthcare diagnostics systems for the identification and treatment of bacterial infections.
The company recently released its Q4 and fiscal 2019 financial results, indicating that it added 304 contracted instruments in 2019, with 137 of them coming in the fourth quarter. Net sales in the fourth quarter were $3.5 million compared to $1.9 million a year ago. The company posted a net loss of $21.3 million or 39 cents per share in the quarter. Full-year revenue was $9.3 million, with the net loss being $84.3 million or $155 per share.
AXDX stock is down by about 5.70% at $8.72.
Bottom Line
Short selling can hold incredible returns for short sellers, but it is very risky because of the potential of a short squeeze play. However, this stock short report demonstrates some of the stocks with incredible short floats for short sellers.
Featured image: Pixabay
