Traders have upped their bets against several biotech companies, including the beleaguered Novavax. Short interest in Novavax increased more than 13% to 37.8 million shares, or about 45% of the total float, between March 15-31, according to data compiled by FactSet. The float refers to the stocks available for trading. The Covid vaccine-maker raised doubts in February about its ability to stay afloat.
Other biotech companies that saw growing short interest are Cassava Sciences , with a 10% increase, and Fate Therapeutics , which saw a 26% boost. That brought both names to about 30% of float. Meanwhile, bluebird bio had a 29% increase in its short interest to 26% of float. Traders were also increasingly bearish on two movie chains. Cinemark and AMC Entertainment both saw increases in their short position to 28% and 27% of their respective floats.
You forgot evgo with over 34% shorted. But why anyone would short one of the best ways to combat the climate crisis is beyond me, especially now with impacts increasing. It must be fossil fuel hounds. But I have no doubt they'll get theirs in the end.
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