Aphria Inc (fka APHA)

[john1311]

Cannabis Short Sellers Down $641M In May

After netting nearly $1 billion in profits in 2019, cannabis short sellers got off to a strong start in 2020 as well. However, cannabis stocks have taken off in recent weeks, and cannabis short sellers are feeling the pain.

Here are the five most heavily shorted cannabis stocks today by short interest, according to S3:

Canopy Growth Corp (NYSE: CGC), $913.7 million.
GW Pharmaceuticals PLC (NASDAQ: GWPH), $656.1 million.
Aurora Cannabis Inc (NYSE: ACB), $186.8 million.
Cronos Group Inc (NASDAQ: CRON), $307.3 million.
Aphria Inc (NYSE: APHA), $143.5 million.

Dusaniwsky said traders looking for the most likely short squeeze candidates should focus on stocks with the highest borrow fees that have generated the biggest losses for short sellers year to date.

“Mark-to-market losses coupled with rising stock borrow rates are priming the pump for potential short squeezes in several cannabis stocks,” Dusaniwsky wrote.

https://finance.yahoo.com/news/cannabis-short-sellers-down-641m-142656940.html