The Canadian stocks we’ve identified have short interest as a percentage of float greater than 20%
SmallCapPower | May 9, 2022: Short interest as a percentage of float is typically used by investors to determine how much bearish sentiment there is towards a stock. It is calculated by dividing the number of shares sold short by the total number of shares available for trading (the public float). Typically, 10% shortage interest is considered extremely bearish. Today we have uncovered three TSX-listed Canadian stocks with short positions as a percentage of their float over 20%.
*Share price data and other metrics as of May 6, 2022
Air Canada (TSX:AC) – $22.00
Airlines
Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2020, the Company generated about C$6 billion in total revenue, down from $19 billion in 2019 due to the pandemic and related travel restrictions.
- Market Cap: $7,880.4M
- 7-Day Return: -4.0%
- 30-Day Return: -1.7%
- 30-Day Average Trading Volume: 3,285,530
- Short Interest % Float: 30%
Canopy Growth Corp. (TSX:WEED) – $7.80
Cannabis
Canopy Growth engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments: Global Cannabis and Other Consumer Products. The Company’s products include dried cannabis flowers, oils and concentrates, and softgel capsules. It offers its products under the Tweed, Quatreau, Deep Space, Spectrum Therapeutics, First & Free, TWD, This Works, BioSteel, DNA Genetics CraftGrow, Tokyo Smoke, DOJA, Van der Pop, and Bean & Bud brands. The Company also provides growth capital and a strategic support platform that pursues investment opportunities in the global cannabis sector.
- Market Cap: $3,040.5M
- 7-Day Return: 14.1%
- 30-Day Return: -11.2%
- 30-Day Average Trading Volume: 2,041,944
- Short Interest % Float: 25.6%
Lion Electric Co (TSX:LEV) – $ 7.77
Electric Vehicles
The Lion Electric Co is a manufacturer of zero-emission vehicles. It creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses and minibuses for the school, paratransit and mass transit segments. Lion is a North American company engaged in electric transportation and designs, builds and assembles all its vehicles components, including chassis, battery packs, truck cabins and bus bodies.
- Market Cap: $1,122.9M
- 7-Day Return: -5.8%
- 30-Day Return: -20.1%
- 30-Day Average Trading Volume: 396,397
- Short Interest % Float: 22.6%
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