Ortex-reported short interest in Lucid Group (LCID) dipped steeply to about 25% in mid-April, reflecting profit-taking among bears just as the company posted disappointing Q1 revenue guidance and offered $300M in common stock. The extreme selling has abated, though while the rebound in the stock price has not materialized, bears are reloading nonetheless. This week, shorts as a percentage of free float spiked from 32% to 39%, a record high, while days-to-cover saw an uplift from 3.6 to 4.3. In the five-day period covered, the stock fell 4%, and year-to-date, shares are down 44%.
Ortex-reported short interest in Kohl’s (KSS) has spiked from about 21% back above 27% of free float, the highest level since the first week of May, reversing the steady decline seen over the past two months as the stock has staged a sharp recovery from its recent lows. Following a prolonged period of bearish positioning easing from nearly 30% to just over 20%, renewed short selling has emerged this week alongside a rally that has carried shares back toward the upper end of their recent trading range. Similarly, days-to-cover jumped from 4.7 to 6.3 as trading volumes remained steady through June. The stock was up 10.7% in the five-day period covered through Thursday and up 71% from its mid-May lows.
