Qualcomm Inc (QCOM)

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The 6 Most Shorted Nasdaq Stocks
By: 24/7 Wall St. | November 12, 2018

October turned out to be a very volatile month, with the stock markets seeing a correction and some sectors and many individual stocks slipping into bearish territory. Investors had plenty to worry about, including rising interest rates, weakness in international markets, growing effects of the trade war with China and a mixed bag from corporate earnings, as well as the midterm elections and the upcoming holiday season.

Judging by the most shorted stocks traded on the Nasdaq between the October 15 and October 31 settlement dates, those sellers were looking for direction as short interest moves were mixed. Helios and Matheson Analytics saw another notable upswing in the numbers of its shares sold short, while Qualcomm led among the decliners during those two weeks.

Note that just three Nasdaq stocks had more than 100 million shares short as of the most recent settlement date.

Qualcomm

More than 91.82 million Qualcomm Inc. (NASDAQ: QCOM) shares were sold short as of the most recent settlement date. That represented 6.3% of the chipmaker’s float and was a retreat of about 15% from in the prior period, but still much more than the fewer than 30 million shares seen back in August. As of the end of the month, it would take nearly six days for investors to cover all their short positions at the posted average daily volume.

Qualcomm recently claimed that Apple owes the company $7 billion. The October 31 closing share price was around 2% lower than on the previous settlement date. It has retreated more than 11% in the past week, and the stock was last seen trading at $56.72 a share, down from the 52-week high of $76.50. The 52-week low is $48.56 per share. And the share price is more than 12% lower than it was 90 days ago.

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