We experienced the dangers associated with a stalled INK Indicator last year. Will it all happen again? Will we see a move up in stock prices in the first part of the year, only to see those gains evaporate in the fall?
We tackle that question and more in the latest Canadian Insider Insights. Click here to read this week's newsletter (registration not required).
Top Buys and Sells Past WeekTSX and TSXV stocks with most insider sellings in the past 7 days |
High Liner Foods remains the most shorted stock on the TSX based on the latest IIROC report and INK data. Short interest remained relatively steady at 15.54% of its float, down 0.26% from the March 30th report. Since our April 8th INK post warning that based on INK signals the stock appeared at risk of a bearish setup, it has dropped 4.5%. Our bearish signal remains in place based on a combination of relatively large short-selling and average insider commitment.
| Top 10 Canadian Stocks Shorted as of April 15, 2019* | ||||||
| Stock | Shares Short | %Float | Change | INK Signal | ||
| 1 | HLF | High Liner Foods | 3,473,749 | 15.54% | -0.26% | Bearish |
| 2 | CJT | Cargojet | 1,344,935 | 11.41% | 0.06% | Bearish |
| 3 | VFF | Village Farms Intl | 4,129,338 | 11.09% | 3.98% | Bearish |
| 4 | POU | Paramount Resources | 7,598,596 | 10.68% | 0.33% | Squeeze |
| 5 | SSL | Sandstorm Gold | 17,681,658 | 10.21% | 0.01% | Bearish |
| 6 | GWO | Great-West Lifeco | 28,114,999 | 10.12% | 0.23% | Squeeze |
| 7 | L | Loblaw Companies | 11,200,733 | 9.98% | -0.16% | Bearish |
| 8 | ACQ | AutoCanada | 2,707,756 | 9.91% | 0.08% | Bearish |
| 9 | SIS | Savaria | 3,019,775 | 9.84% | 6.05% | Squeeze |
| 10 | CHW | Chesswood Group | 794,730 | 8.91% | -0.01% | Squeeze |
*Stocks trading over $1
Shorts continued to hang on for the ride at Cargojet which remains the second most shorted stock. Although the stock is up slightly since our last report, short-sellers may start to enjoy their ride as our signal has flipped from a potential short-squeeze situation to a bearish setup. On April 16th, the company announced the closing of a $100 million bought deal debenture financing which could encourage some shorts who were hedging the transaction to cover.
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