Here are the 10 most shorted ASX shares

Short sellers are betting on these ASX shares sinking from current levels…

A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At the start of each week, I like to look at ASIC's short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

  • Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share despite its short interest falling heavily to 12.6%. Short sellers may have been closing positions after the travel agent's recent update.
  • Betmakers Technology Group Ltd (ASX: BET) has seen its short interest edge lower to 12.5%. Competition, cash burn, and valuation concerns may be weighing on this betting technology company's shares.
  • Megaport Ltd (ASX: MP1) has seen its short interest rise to 9.9%. Short sellers have been adding to their positions since the network as a service provider released a disappointing quarterly update.
  • Core Lithium Ltd (ASX: CXO) has short interest of 9.6%, which is up week on week. Valuation concerns have been weighing on this lithium share.
  • Sayona Mining Ltd (ASX: SYA) has 9.3% of its shares held short, which is up slightly week on week. Fears that lithium prices have peaked could be behind this high level of short interest.
  • Liontown Resources Ltd (ASX: LTR) has short interest of 7.7%, which is down slightly week on week. Once again, lithium price concerns appear to be behind this. In addition, project cost blow outs have sparked fears that a capital raising could be coming.
  • Lake Resources N.L. (ASX: LKE) is a fourth lithium share in the list with 7.6% of its shares held short, which is up week on week. J Capital is shorting this lithium developer due to concerns over its technology and project funding.
  • Pointsbet Holdings Ltd (ASX: PBH) is back in the top ten with 7.3% of its shares held short. Competition and cash burn concerns appear to be why short sellers are going after this sports betting company.
  • NextDC Ltd (ASX: NXT) has returned to the top ten with short interest of 7%. Short sellers may have concerns that economic conditions could weigh on its performance.
  • Zip Co Ltd (ASX: ZIP) has short interest of 6.9%, which is flat week on week. Short sellers appear to be doubting that Zip will be able to deliver profitable growth.

Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Betmakers Technology Group, Megaport, PointsBet, and Zip Co. The Motley Fool Australia has recommended Betmakers Technology Group, Flight Centre Travel Group, Megaport, and PointsBet. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A view from the track behind a runner in the starting block.
Opinions

3 beginner-friendly ASX shares perfect for Aussie investors starting out in November

Here’s why I like the look of these ASX shares for beginners.

Read more »

A group of business people pump the air and cheer.
Mergers & Acquisitions

This ASX small-cap stock is exploding 75% on takeover news!

The takeover premium is large.

Read more »

Two brokers analysing stocks.
Broker Notes

Don't miss these changes to broker ratings on ASX shares

The verdicts are in.

Read more »

Happy man working on his laptop.
Share Market News

5 things to watch on the ASX 200 on Wednesday

Will the market return to form today? Let's find out.

Read more »

a young farmer stands back and admires his work in arranging bales of hay to form a house shape with two bales balancing against each other to form a roof, perched on bales tipped on their side in an abstract house shape on a freshly harvested paddock.
Best Shares

Top ASX shares to buy in November with the market near all-time highs

Our writers are still finding value in a record-breaking Australian share market.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured another day of selling this Tuesday.

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
52-Week Highs

12 non-bank ASX 200 shares smashing new 52-week highs today

Do you own any of these stocks at 52-week highs today?

Read more »

Man pointing at a blue rising share price graph.
Technology Shares

Guess which ASX 300 tech stock is already up 64% in November!

The ASX 300 tech stock is surging higher this month. But why?

Read more »