OVID enters its November 13 earnings print on the back of a sharp short squeeze in the lending market. The clearest shift in positioning is the rapid unwind of short interest. OVID's SI % of free float stands at 23.2%, still high in absolute terms, but the number has fallen roughly 33% over the past month, dropping from more than 26 million shares shorted in late September to around 16.5 million today. This substantial cover coincides with the stock's 19% weekly gain. Borrow conditions are loose and getting looser: availability has expanded to 227%, well above the 52-week tightest level of 43%, meaning supply of shares to lend has grown substantially relative to what is already borrowed. Cost to borrow remains negligible at 0.70%, confirming that the retreat in short positions is driven by conviction 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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