OVID enters its November 13 earnings print on the back of a sharp short squeeze in the lending market. According to Ortex data, the company's short interest as a percentage of free float currently stands at 23.2%. While still high in absolute terms, this represents a significant decline from the more than 26 million shares shorted in late September to approximately 16.5 million today. This substantial cover coincides with a 19% weekly gain in the stock price. Borrow conditions have eased significantly, with availability expanding to 227% and the cost to borrow remaining negligible at 0.70%. This suggests the retreat is driven by a reassessment of clinical risk rather than a forced squeeze.
Signal data sourced from Ortex. This post is an original analysis prepared by The Forensic Ledger from publicly available data. Not investment advice.
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