Short selling has become a broader discussion in 2021 after retail investors from Reddit's WallStreetBets sent a group of heavily shorted stocks higher earlier this year.
One of the main opponents to the act of short selling is Elon Musk because his company, Tesla (TSLA) - Get Report, is one of the most heavily shorted stocks by volume. Tesla's short selling has increased to a record $47 billion by the end of January. Tesla's short sellers lost $38 billion in the past year.
Real Money's Bob Lang explained why short selling is such an important part of the stock market.
Jim Cramer also shared what he learned from his experiences short selling and why he believes it has a function.
Here are some of the most shorted stocks as of Feb. 9 by their short interest.
1. GameStop | Short Interest 41.95%
The Reddit WallStreetBets user known as "Roaring Kitty," who began the GameStop (GME) - Get Report gamma squeeze, is being sued for allegedly misrepresenting himself as an amateur investor. "Roaring Kitty" user's real name is Keith Gill and will be testifying before Congress Thursday.
2. Tanger Factory Outlet | Short Interest 40.86%
Tanger Factory Outlet (SKT) - Get Report beat earnings expectations Wednesday and reported strong guidance for 2021. The REIT is up over 5% in premarket trading.
3. iSun Inc. | Short Interest 39.72%
Peck Company Holdings changed its name this past month to iSun Inc. iSun also secured a $2.2 million contract for solar EV charging and energy infrastructure.
4. Ligand Pharmaceuticals | Short Interest 38.91%
Ligand Pharmaceuticals (LGND) - Get Report CEO John Higgins announced that he sold $11.1 million in shares on Feb. 5 and the stock is down over 26% since.
5. Koss Corporation | Short Interest 38.16%
Real Money columnists are recommending investors ignore speculative stocks like Koss Corporation (KOSS) - Get Report. Experts recommend investors buy Corsair Gaming instead of Koss.
6. Triterras Inc. | Short Interest 37.73%
A class-action lawsuit was filed Wednesday against Triterras (TRIT) on behalf of investors who bought Triterras stock between August and December of 2020.
7. GSX Techedu | Short Interest 36.31%
GSX Techedu (GSX) - Get Report won't report earnings until the first week of March. The stock is slightly this past week as it approaches its report.
8. Clovis Oncology | Short Interest 35.78%
Clovis Oncology (CLVS) - Get Report reports its earnings next week and expected. Clovis had its price target dropped one dollar by Piper Sandler.
9. National Beverage Corp. | Short Interest 34.91%
National Beverage (FIZZ) - Get Report announced a one-for-one stocks split earlier this month. Shares are down over 7% since the split.
10. Accelerate Diagnostics | Short Interest 34.73%
Accelerate Diagnostics (AXDX) - Get Report is reporting its earnings next week and shares are up over 25% in the month of February.
11. Gogo Inc. | Short Interest 33.49%
Gogo (GOGO) - Get Report shares fell over 9% in trading Wednesday after rising over 23% in the past month. Gogo will report earnings before the bell on Mar. 11.
12. SunPower Corporation | Short Interest 31.93%
SunPower (SPWR) - Get Report shares were falling after it reported its quarterly financials Wednesday. Shares were down 6% after it missed its fourth-quarter sales.
13. Luminar Technologies | Short Interest 31.35%
AEye, a lidar company specializing in car sensors, is planning to go public via SPAC. Luminar Technologies (LAZR) - Get Report, a competitor of AEye, shares are down this the announcement
14. Rocket Companies | Short Interest 31.33%
Cramer was asked about Rocket Companies (RKT) - Get Report on Mad Money earlier this month and he responded to the viewer that "If you like mortgages, then Rocket is fine".
15. Tootsie Roll | Short Interest 31.10%
Tootsie Roll (TR) - Get Report reported earnings Tuesday and reported a $15 million profit in the fourth quarter.
All stock short interests and rankings were pulled from FactSet.
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Most Heavily Shorted Stocks by Short Interest - TheStreet
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