Rapid Short Unwind
OVID enters its November 13 earnings print on the back of a sharp short squeeze in the lending market. Short interest as a percentage of free float currently stands at 23.2%, down significantly from the 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 Market Conditions
Borrow conditions have loosened considerably. Availability has expanded to 227%, a stark contrast to the 52-week tightest level of 43%. The cost to borrow remains negligible at 0.70%, suggesting that the recent reduction in short positions is driven by a reassessment of clinical risk rather than a forced squeeze due to borrow scarcity.
Signal data sourced from Ortex. This post is an original analysis prepared by The Forensic Ledger from publicly available data. Not investment advice.
Not investment advice. This is original reporting and analysis prepared by The Forensic Ledger from publicly available data. Nothing here is a recommendation to buy, sell, or hold any security. Always consult the original source and a licensed professional. See our full disclaimer and source-citation policy.