Ovid Therapeutics (OVID) is heading into its November 13 earnings print with a significant shift in market positioning. Short interest as a percentage of free float has fallen by approximately 33% over the past month, dropping from over 26 million shares to roughly 16.5 million. Despite this decline, the short interest remains elevated at 23.2% of the free float. The borrow market has become increasingly loose, with share availability expanding to 227% and the cost to borrow remaining low at 0.70%. This suggests that the recent 19% weekly gain in the stock price is driving a voluntary retreat by short sellers rather than a forced squeeze, as borrow conditions remain favorable for those looking to exit.
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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