Loblaw Companies (L)

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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.

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. 

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.

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