Severe stock market volatility caused by Reddit-led short squeezes on companies such as GameStop have created one of the worse market environments for shorting stocks in a generation. Today, we have dug down and discovered three Canadian stocks with the highest short positions as measured by short interest as a percentage of total stock float. This could create a short squeeze, sending their stock prices sharply higher.
By Lorimer Wilson, Managing Editor of munKNEE.com – Your KEY To Making Money! This enhanced version of the original article from SmallCapPower.com has been edited and abridged for clarity and brevity to ensure a fast and easy read.
1. First Majestic Silver Corp. (TSX:FR)
First Majestic Silver is a mining company focused on silver production in Mexico… About 25% of First Majestic’s total float has been sold short.
2. Westshore Terminals Investment Corporation (TSX:WTE)
Westshore Terminals operates a multi-user coal loading facility in Vancouver, British Columbia. Coal is delivered to the Terminal in unit trains and is loaded onto vessels that are destined for approximately 18 countries worldwide, with the largest volumes being shipped to Asia. About 22% of Westshore’s total float has been sold short.
3. Aurora Cannabis Inc. (TSX:ACB)
Aurora Cannabis, a vertically-integrated and horizontally-diversified cannabis company, is the #1 Canadian medical cannabis platform also has the #1 or #2 CBD brand in U.S. brick & mortar stores as ranked by Nielsen and IRI. About 21.5% of Aurora’s total float has been sold short.
….[As you are most likely well aware,] GameStop’s (GME) stock has exploded over the past few days. After trading below $20 per share for most of December and the first few weeks of January, it’s now trading at almost $200/share. Why is it suddenly soaring?…[Well,] it’s a classic short squeeze, but this time, Reddit-style. Here’s a closer look at what that …
About Lorimer Wilson
Lorimer Wilson is an economic & financial commentator who has written numerous articles on economics, finance, precious metals, and the cannabis stock sector. He is the Managing Editor of munKNEE.com, a site that provides a selection of the internet’s best finance articles in an edited, reformatted and abridged format to ensure a fast and easy read.
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