Short Interest Swings Wildly
Short Sellers See Dramatic Shifts Across Innovent Biologics and Other Key Stocks in July
Anonymous
Key Points
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Innovent Biologics (IVBXF)’s July short-interest spike occurred alongside notably thin liquidity: short interest reached 1,029,572 shares (up 4,520% from June 30), yet only 539 shares traded that day versus a 4,384-share average; the stock traded around $10.83, within a 12-month range of $9.10 to $15.12 and with 50-day and 200-day moving averages near $10.57 and $10.72 respectively.
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Token Cat Limited (TC) shows a sharp, highly shorted setup: short interest at 501,558 shares (29.1% of float) as of July 15, up 1,749.8% from June 30; days-to-cover is a mere 0.1 days; Weiss Ratings reiterated a sell (e+) rating on the stock amid heavy activity (about 12.8 million shares traded vs. a 4.6 million average).
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Orbit International Corp. (ORBT) saw the opposite dynamic among the group, with short interest collapsing 93.7% to 390 shares and effectively 0.0 days to cover, signaling a near-complete exit of short positions; the company trades around $3.80 with a market cap near $13.4 million and reported a negative quarterly EPS of about -$0.46.
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Orbia Advance Corporation (MXCHY) recorded a 3,032% jump in short interest to 6,264 shares, with a days-to-cover of 1.4; yet 0.0% of shares were short sold at the time, and the stock hovered around $2.71 as Barclays maintained an overweight rating alongside three Buy ratings from analysts.
Short interest across a handful of biotech and specialty ADRs swung wildly in July, with some stocks seeing short positions explode by thousands of percent while others saw short sellers flee almost entirely. According to Ticker Report, Innovent Biologics (IVBXF) led the surge, with short interest jumping 4,520% to 1,029,572 shares as of July 15 — all while only 539 shares traded that day against a 4,384-share daily average.
The moves signal sharply divided bets across this group of small and mid-cap stocks. Days-to-cover — a measure of how many days it would take short sellers to buy back their shares at normal trading volume — ranged from a staggering 344 days for IVBXF to nearly zero for several others.
Innovent Biologics Bears Pile In Despite Thin Trading
Innovent Biologics (IVBXF) recorded one of the most extreme short-interest spikes in recent memory. Short interest rose from a small base to 1,029,572 shares — a 4,520% jump in roughly two weeks. Yet liquidity was razor-thin. Only 539 shares changed hands on July 15, compared to a 4,384-share daily average. That mismatch pushed days-to-cover to about 344, meaning it would take short sellers nearly a year to exit at normal volume.
The stock traded around $10.83 at the time. Its 12-month range runs from $9.10 to $15.12. Both the 50-day moving average ($10.57) and 200-day moving average ($10.72) sit just below the current price, offering little technical signal either way. The combination of heavy short interest and near-zero liquidity makes this setup unusually volatile.
Token Cat ADR Sees 29% of Float Sold Short in Weeks
Token Cat Limited (NASDAQ: TC) told a different story — fast, heavy, and highly shorted. Short interest jumped 1,749.8% from June 30 to July 15, reaching 501,558 shares. That equals about 29.1% of the stock's entire float sold short. Days-to-cover clocked in at just 0.1 days, meaning short sellers could exit almost instantly given the stock's trading volume. About 12.8 million shares traded on July 15, versus a 4.6 million-share average.
Weiss Ratings added pressure from the analyst side, reiterating a sell rating with a grade of E+ on the stock. When nearly a third of a company's float is short and a major ratings firm says sell, the setup signals serious bearish conviction. Investors appear to be betting heavily against TC even as trading volume runs hot.
Orbit International Short Sellers Exit Almost Completely
Orbit International Corp. (ORBT) moved in the opposite direction. Short interest collapsed 93.7% to just 390 shares as of July 15, with days-to-cover effectively at 0.0. That means short sellers have nearly wiped out their positions. The stock trades around $3.80, with a market cap near $13.4 million. The company reported a quarterly loss of about $0.46 per share, yet short sellers chose to exit rather than press their bets.
Orbia ADR Short Interest Spikes 3,032% With Analyst Support
Orbia Advance Corporation (OTCMKTS: MXCHY) saw short interest jump 3,032% to 6,264 shares, according to Ticker Report. Days-to-cover stands at 1.4. Despite the surge in short bets, 0.0% of shares were actually sold short at the time of reporting — a technical oddity in how the figures are tracked. The stock hovered near $2.71.
On the analyst side, the picture looks more upbeat. Barclays maintained an overweight rating on Orbia, and three analysts overall have Buy ratings on the stock. That puts short sellers and Wall Street analysts on opposite sides of the trade — a tension worth watching as more data comes in through the second half of July.
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