FIS Astec Analytics has released its latest weekly list of the most popular stocks among short sellers.
This week’s list contains some familiar names. Here’s a rundown of the hottest stocks among short sellers.
Top Pick: Snap
Snap Inc SNAP 0.75% has returned to the top spot on this week’s list, as volume of short selling as a percentage of shares available came in at 96 percent on the week. FIS Astec reports that short sellers covering their positions are likely being forced to do so by lenders withdrawing shares from the market.
1. J.C. Penney
J C Penney Company Inc JCP 0.44% shares are already down more than 43 percent year-to-date, but short sellers see more downside ahead. FIS Astec reports that a 17 percent drop in short interest by volume was accompanied by an 11 percent uptick in utilization last week, which reached 82.6 percent.
2. GNC
GNC Holdings Inc GNC 6.11% has endured a huge spike in short interest, which hit 90 percent of available supply by March. Last week, utilization jumped from 71 percent back up to 83 percent, landing GNC at the No. 2 spot.
3. Tesla
Tesla Inc TSLA 1.42% has been a permanent resident of the top short stock list in recent years, but it dropped off the list in April. While short interest remains down 27 percent since its January peak, FIS Astec reports is has been on the rise since the beginning of May.
4. Frontier Communications
Frontier Communications Corp FTR 3.64% shares have plummeted 19 percent since the company’s last earnings report. Short sellers, however, are as convinced as ever that there is more downside ahead, with short interest as a percentage of available supply rising from 92 percent to 96 percent last week.
5. Sears
Sears Holdings Corp SHLD 1.89% is…
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