FLT, BET, NAN, PNV, APX: Five most shorted shares on ASX 200

3 min read | June 15, 2022 11:18 AM AEST | By Ashish

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FLT, BET, NAN, PNV, APX: Five most shorted shares on ASX 200 — Image source: © Stbernardstudio | Megapixl.com

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Highlights

Investors track short interest levels of various stocks.

The ASIC publishes these short position reports on a daily basis.

A company is said to be facing some challenges in case the short interest level of a stock is high.

Investors depend on short position reports released by the Australian Securities and Investments Commission (ASIC) to devise their investing strategies. These reports, which are released by the ASIC on a regular basis, help investors to track short interest levels of various stocks.

A company is said to be facing some challenges in case the short interest level of a stock is high, and vice versa. So, it’s critical for investors to carefully track these short levels on a daily basis before drafting their stock market strategies.

On this note, let’s discuss the seven most shorted ASX shares this week, according to the ASIC:

Flight Centre Travel Group Ltd (ASX:FLT)

The stock of Flight Centre Travel Group continues to be the most shorted ASX-listed share after its short interest rose to 17%. The global travel outlook may have improved, but investors are also concerned about rising inflation which may spoil travel plans of people.

Betmakers Technology Group Ltd (ASX:BET)

Short interest of the betting technology firm Betmakers rose to 13.9%. The stock may be on the downside currently due to its higher multiples and the firm’s ongoing cash burn.

Nanosonics Ltd (ASX:NAN)

The short interest of medical device firm Nanosonics fell week-on-week to 12.2%. The stock of the company has remained under pressure ever since it announced a major change to its sales and distribution model in the US. A section of investors believes that this move may disrupt its sales and lead to escalated costs.

Polynovo Ltd (ASX:PNV)

The short interest of the medical device company rose to 11.4%. Short interest is expected to rise further as the stock would be removed from the ASX 200 index at the next rebalance.

Appen Ltd (ASX:APX)

The artificial intelligence data services company’s short interest rose to 9.6%. Reasons behind the weak performance of the stock are the company’s muted start in FY2022 and concerns about disruptions in the industry. The stock would also be dumped from the ASX 200 index later this June.

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