Tables reflect the most shorted names by short interest % of float in each region. Please reach out for the full list of short interest stats for names relevant to you ahead of upcoming earnings releases.

Most Shorted Week of August 4 Preview:

In North America, Hims & Hers Health (HIMS US) remains a key focus with 37% of float shorted and a Squeeze Risk Score of 100 since July 25. Despite a 25% QTD rally, short sellers are holding firm—reflecting both high-conviction valuation concerns and hedge-driven exposure linked to the company’s May 2025 convertible bond issuance. Tempus AI (TEM US), heading into its second quarterly report as a public company, has seen short interest rise 9% QTD during a sharp drawdown; a $650M convertible note offering in late June has likely contributed to increased shorting. Lucid (LCID US), which has 31% of float short and a 15% QTD share price rally, issued $1B in convertible senior notes earlier this year and is the hardest to borrow among this week’s names—with financing costs near 6%. In EMEA, Commerzbank (CBK GR) continues to defy shorts, with a 9% QTD rise in short interest and a 21% price gain, creating unwind potential if results meet expectations. Some of the elevated short interest may reflect hedges to UniCredit’s remaining synthetic equity exposure, which was built through derivatives and partially converted to physical shares earlier this year. Hugo Boss (BOSS GR), by contrast, has seen short covering into earnings. In APAC, Lasertec (6920 JP) stands out as a classic “crowded short into weakness,” with short interest up 35% QTD and the stock down 25%. Meanwhile, Cathay Pacific (293 HK) trades near YTD highs with 31% of float short and a 10% QTD rally, leaving it vulnerable to a short squeeze if earnings surprise to the upside; S3’s current squeeze risk score is 87.5.

Most Shorted Week of July 28th Recap:

Avis Budget (CAR US) fell ~15% after reporting, validating its elevated 41% short interest as elevated squeeze risk was not realized. Riot Platforms (RIOT US) dropped –17% post-results despite a strong pre-earnings rally, showing how sentiment-driven trades can quickly unwind when positioning is crowded. In contrast, Rocket Companies (RKT US) surged +12% after a 3% increase in short interest, catching bearish traders offside and validating S3 squeeze risk score, highlighted in June. In APAC, Xinyi Glass (868 HK) also sold off ~4% following strong recent momentum into the report, reinforcing the idea that rising short interest into strength can flag reversal setups. Porsche (P911 GR) delivered a muted post-earnings move, consistent with the structural arbitrage nature of its short interest, where traders weren’t leaning for a directional earnings surprise.

For short interest data tied to the names you're watching this earnings season—including squeeze risk scores and position breakdowns—reach out to S3 Partners. We are the industry standard across global markets and will help you avoid relying on proxies and outdated data.

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The information herein (some of which has been obtained from third party sources without verification) is believed by S3 Partners, LLC (“S3 Partners”) to be reliable and accurate. Neither S3 Partners nor any of its affiliates makes any representation as to the accuracy or completeness of the information herein or accepts liability arising from its use. Prior to making any decisions based on the information herein, you should determine, without reliance upon S3 Partners, the economic risks, and merits, as well as the legal, tax, accounting, and investment consequences, of such decisions.

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