Blue Apron Jumps To The Top Of Short-Seller Favorites List

FIS Astec Analytics has released its latest weekly list of the most popular stocks among short sellers.

This week’s list contains some familiar names and a brand new top pick. Here’s a rundown of the hottest stocks among short sellers.

Top Pick: Blue Apron

With Amazon.com Inc AMZN announcing plans for its own packaged food delivery service, it’s easy to see why short sellers have a healthy skepticism of recent IPO Blue Apron Holdings Inc APRN. According to FIS Astec, short sellers pounced on 100 percent of available shares as of July 11.

1. Snap

With its lock-up expiation set to begin at the end of July, short sellers are betting that 2017 IPO stock Snap Inc SNAP will be drowned in a flood of shares. Snaps utilization rate climbed another 3 percent in the most recent week and now stands at 96 percent of available shares.

Related Link: Analyst: Expect Even Greater Seasonality To Snap Revenue Than Expected

2. RH

Short sellers aren’t buying that a name change from Restoration Hardware makes RH RH a buy. Borrowing costs have been on the rise as utilization has now reached 98 percent of available supply.

3. Applied Optoelectronics

The stock’s recent 25 percent jump after it raised earnings guidance only seemed to make Applied Optoelectronics Inc AAOI short sellers even more determined. Short sellers now account for 97 percent of available shares.

4. Pandora

Pandora Media Inc P shares are up 36 percent in the past month, but short sellers’ resolve hasn't been shaken. FIS Astec reports that short interest increased 6 percent by volume and now stands at 93 percent of available supply.

5. Under Armour

Under Armour Inc UAA shares are already down 51.7 percent in the past year, but short sellers remain convinced of further downside ahead. Under Armor continues to consistently deliver 100 percent utilization levels, suggesting short sellers are happy to snatch up every available share.