Lucid Group Short Interest Hits Record High of 39%
Welcome to this week's installment of "The Short Interest Report" - The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was down 0.9%, the Nasdaq Composite was down 2.6%, the Russell 2000 index was up 3.1%, the Russell 2000 Growth ETFwas up 3.2% and the Russell 2000 Value ETFwas up 3.0% in the five-day trading session range through June 25.SHORT INTEREST GAINERSOrtex-reported short interest in Lucid Groupdipped 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'shas 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.Ortex-reported short interest in Frontier Group Holdingshas risen back above 42% of free float – up from 33% - reaching a two-month high even as the stock has more than doubled from its March low. Adding to the constructive backdrop, Barclays has recently raised its price target and reiterated its positive view on Frontier, citing improving industry capacity trends and stronger earnings power, but rather than prompting broad short covering, the advance has been met with renewed bearish positioning. In spite of seasonal trading volume, days-to-cover on the name has also jumped from 3.6 to 4.6. With bullish fundamentals colliding with elevated bearish positioning, ULCC remains a notable candidate for continued volatility. In the five-day period covered, Frontier was up 21%.Ortex-reported short interest in Critical Metalshad troughed near 20% late last week but climbed back above 25% of free float this week, rebounding to its highest level in one month even as the stock has drifted back toward the lower end of its recent trading range. Days-to-cover on the name remained relatively modest at 1.9, up from 1.4, as trading volume in the name sagged relative to elevated levels in April and May. In the five-day period covered through Thursday, Critical Metals has fallen 8%, though Friday's 8% bounce saw all of those losses erased, and year-to-date, the stock is in the positive, rising 44%.SHORT INTEREST DECLINERSOrtex-reported short interest in Designer Brandshas continued to decline gradually for much of 2026, slipping from 27% at the start of the year to low-20% range by the first week of June. After a brief two-week bounce however, this week saw short positioning contract more briskly, falling from 23.5% down to 19.6% - the lowest level since January 2024. Days to cover on the name also fell from 9.4 to 8.5 – a 3-month low. Bears appear to be more inclined to book profits after a pronounced selloff that followed the company's Q1 results on June 9, and the downdraft has persisted. This week, Designer Brands shares were down 7%, though the stock is off by 35% from its pre-earnings highs on June 4.
