AutoCanada (ACQ)

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Shorts see Paramount as a favourite target while VersaPay gains in popularity

Shorts continue to press their bets against Paramount Resources (POU) and High Liner Foods (HLF) which remain the two top favourite short targets in Canada based on the May 31st IIROC short report released today. Although short positions fell as a percentage of float in both names since the May 15th IIROC short report, the reductions were not enough to move the two stocks down the list of the most shorted names in Canada.

Shorts stick with their favourites

With most Q1 earnings reports out of the way, short sellers are sticking with their favourite targets. Bonterra Energy (BNE) is the only new name on our ten most shorted stock list (as a % of float), replacing Laurentian Bank (LB) which is now the 11th most shorted stock. The top two spots continue to be held by Paramount Resources (POU) and High Liner Foods (HLF).

The harvest begins for Village Farms Intl short sellers

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.

Shorts hooked on High Liner Foods

High Liner Foods is the most shorted stock on the TSX based on IIROC and INK data. Shorts added to their positions as the stock rallied 11.8% since March 15th. However, their bets may still pay off. Based on INK signals, the stock appears at risk of a bearish set up based on a combination of relatively large short-selling and average insider commitment.

Top 10 Shorts: Bets rise against Paramount Resources

Shorts have Paramount Resources in their crosshairs based on Thursday's IIROC short report. The stock has seen its short position jump by 987,869 shares and now totals 7,352,444 shares representing 10.3% of the stock's float. The short data is as of March 15th as reported by market participants to IIROC.

Insights: Glass half full or half empty?

When it comes to the potential for stock market gains for the rest of the year, is the glass half full or half empty? We tackle the issue in this week's Canadian Insider Insights newsletter. We suggest that the optimists may have one important factor going their way.

To get our take on what that might be, click here to read the latest edition of our weekly newsletter for free. It is even better than free because no registration is required.

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