The TSX-listed Canadian stocks on our list have the highest short interest as a percentage of their float
SmallCapPower | October 12, 2021: 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, a 10% short interest is considered extremely bearish. Today we have identified four TSX-listed Canadian stocks with the highest short positions as a percentage of their float, meaning that further downside could be ahead or the stock could power higher due to a short squeeze.
*Share price and other metrics as of October 8, 2021
Tilray, Inc. (TSX:TLRY) – $13.06
Cannabis
Tilray is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people’s lives for the better – one person at a time – by inspiring and empowering the worldwide community to live their best life by providing them with products that meet the needs of their mind, body, and soul and invoke a sense of wellbeing. Tilray’s mission is to be the trusted partner for its patients and consumers by providing them with a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and alcoholic beverages.
- Market Cap: $6,026.0M
- 30-Day Return: -19.7%
- YTD-Return: 0.0%
- 30-Day Average Trading Volume: 1,019,430
- Short Interest % Float: 9%
Maxar Technologies Inc. (TSX:MAXR) – $35.41
Aerospace and Defence
Maxar Technologies provides space technology solutions for commercial and government customers worldwide. The Company’s three segments include: Space Systems, Imagery, and Services. The Space Systems segment supplies space and ground-based infrastructure, along with information solutions. These products include satellites, antenna subsystems, surveillance solutions, and robotic systems. This segment also offers spacecraft and subsystems to the U.S. and Canadian government, and other customers for research and development missions. The imagery segment focuses on Earth imagery and radar data solutions for the U.S., Canadian, and other international government agencies. The Services segment provides geospatial information, applications, and analytic services for the U.S. government and commercial customers.
- Market Cap: $2,567.7M
- 30-Day Return: -9.0%
- YTD-Return: -28.0%
- 30-Day Average Trading Volume: 100,210
- Short Interest % Float: 9%
Ceridian HCM Holding Inc. (TSX:CDAY) – $148.17
Technology
Ceridian is a global human capital management software company and one of the largest payroll services providers in Canada and the United States. Dayforce, the Company’s flagship product, is a cloud HCM platform, providing human resources, payroll, benefits, workforce management, and talent management functionality. Its platform is used to optimize management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes.
- Market Cap: $22,220.1
- 30-Day Return: +3.3%
- YTD-Return: +9.1%
- 30-Day Average Trading Volume: 17,090
- Short Interest % Float : 7%
Vintage Wine Estates, Inc. (TSX:VWE.U) – $12.76
Wineries
Vintage Wine Estates is a family of wineries and wines whose singular focus is producing the finest quality wines and incredible customer experiences. The Company has wineries throughout Napa, Sonoma, California’s Central Coast, Oregon and Washington State. The Companies wine portfolio reflects wines of all kinds—luxury wines, award-winning wines, everyday wines, inspired classic wines and inventive new vintages that reflect our times.
- Market Cap: $22,220.1M
- 30-Day Return: +3.3%
- YTD-Return: +9.1%
- 30-Day Average Trading Volume: 17,090
- Short Interest % Float : 6%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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