3 Canadian Stocks with the Biggest Short Positions

The Canadian stocks we’ve found have the largest short positions as a percentage of its total float

SmallCapPower | June 29, 2020: Investors who want to make money if a stock price falls can sell a security short – borrow shares from their broker, sell them, and eventually buy those shares back, hopefully at a lower price. Brokers do charge borrow fees for this privilege, which can be quite steep depending on the quality and popularity of the shares being loaned. Today we have identified three Canadian stocks with the largest short positions as a percentage of its total float, as of June 22, 2020.

*Returns are based on closing stock prices as of June 26, 2020

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Cronos Group Inc. (TSX:CRON) – $8.20
Cronos Group has two wholly-owned Canadian licensed producers: 1) Peace Naturals Project Inc., a global health and wellness platform; and 2) Original BC Ltd., a recreational adult-use Canadian licensed producer that is located in Okanagan Valley, BC. The Company’s first-quarter 2020 net revenue rose to US$8.4 million from $5.4 million during the same period last year. Cronos Group also said during Q1 it moved closer to officially entering the Israeli medical cannabis market with its Cronos Israel operations preparing to sell PEACE NATURALS branded dried flower products to medical patients. CRON’s short interests comprise 30.1% of its float.

  • Year-to-Date Return: – 18%

Canopy Growth Corporation (TSX:WEED) – $21.82
Canopy Growth is the biggest cannabis company listed by market cap on the TSX and NYSE. The Company has the largest licensed production platform in Canada, with over 600,000 sq. ft. of production space. Canopy has also secured the necessary agreements to export medicinal cannabis to Australia, Brazil, and Germany. Canopy Growth recently amended the terms of its previously-announced agreement to buy Acreage Holdings, in which WEED will now pay US$5.49 per share, as compared with the US$9.49 implied under the previous arrangement. WEED’s short interests comprise 27.4% of its float.

  • Year-to-Date Return: – 20%

Westshore Terminals Investment Corporation (TSX:WTE) – $16.78
Westshore Terminals operates a multi-user coal loading facility, which serves Canadian and U.S. shippers of metallurgical and thermal coal. The Terminal is located on land leased from the Vancouver Fraser Port Authority on a manmade island at Roberts Bank, British Columbia. Coal is delivered to the Terminal in unit trains operated by Canadian Pacific Railway, Canadian National Railway and BNSF Railway, and is loaded onto vessels that are destined for approximately 18 countries worldwide, with the largest volumes being shipped to Asia. Billionaire investor Jim Pattison recently increased his ownership stake in Westshore to 36.6%. WTE’s short interests comprise 24.2% of its float.

  • Year-to-Date Return: – 8%

Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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