When stocks have a high short interest rate that indicates that investors believe their share prices will decline soon. Here are the stocks on the market with the highest short interest including Tanger Factory Outlet Centers, Gamestop, Academy Sports, Rocket Companies, and Gogo Inc.
1.GameStop Corp- 41.22%
GameStop Corp (NYSE: GME) is the largest retail gaming store in the world. They offer a wide selection of the latest video games and electronics. Online Reddit users have been rapidly buying up GameStop shares , which has been driving up the price in recent months. Increases in the GameStop's share price have caused huge losses for some hedge funds that had positions betting against GameStop. Gamestock stop went up around 0.80% on Wednesday after having a very successful trading session.
2. Tanger Factory Outlet Stores- 39.98%
Tanger Factory Outlet Stores (NYSE: SKT) is a real estate investment trust that targets shopping centers and outlet centers in the United States. Tanger Factory Outlet Stores' short interest recently has gone up this year due to an online short squeeze trend led by online investors. Tanger suffered from lower sales numbers this past year due to many retail closures. Online traders have piled on this investment which has quickly risen this stock's short interest.
3. Academy Sports And Outdoors Inc- 37.18%
Academy Sports And Outdoors Inc (NASDAQ: ASO) is a leading full-line sporting goods and outdoor recreation retailer in the United States. They offer localized merchandising strategy and value proposition in order to target a wide range of consumers. Academy Sports has been heavily shorted over the past few weeks due to rapid short selling online which has seemed to help increase the company's revenue and online exposure.
4. Rocket Companies Inc - 35.73%
Rocket Companies Inc (NYSE: RKT) is an online mortgage provider that provides industry-leading real estate, mortgage and financial services. They work to enable home ownership and financial freedom with trusted digital solutions for complex transactions. Their revenue is up nearly 150% so far this year after generating over 15.7B in the past year.
See also: How to buy Rocket Companies.
5. Gogo Inc- 35.04%
Gogo Inc (NASDAQ: GOGO) provides in-flight broadband Internet service and other connectivity services for commercial and business aircraft. They operate in Chicago, Illinois and the global In-flight Connectivity is expected to gain market growth in 2021. The In-flight Connectivity market has grown in popularity around North America, Europe, Middle East and Africa this past year which has definitely benefited Gogo Inc.
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