The Short Report – 22 Jul 2021

Weekly Reports | Jul 22 2021

See Guide further below (for readers with full access).


By Greg Peel

Week Ending July 15, 2021.

Last week the ASX200 plunged and rebounded, before being a little more steady for the rest of the week. The plunge was all about the collapse of US bond yields meeting increased cases in Sydney.

The recovery was all about not caring about collapsing US bond yields and lockdown extension threats.

As the table below shows, again not much happened in Short Land last week, except at the top of the table.

No surprise that Webjet ((WEB)) has regained its mantle as most shorted stock on the ASX, jumping to 11.9% from 10.9%, with peer Flight Centre ((FLT)) jumping to 10.5% from 9.0%. Lockdowns are not pleasant for travel agents.

But they are for online-only marketplaces, such as Kogan ((KGN)). Lockdowns are manna for Kogan, which had a cracking 2020 but this year has suffered as Australia reopened. Shorts fell last week to 9.7% from a top-of-the-table 10.9%.

The big move last week was for Zip Co ((Z1P)), soaring to 10.5% and number two position from a mere 7.9% the week before. See below.

Weekly short positions as a percentage of market cap:

WEB   11.9
ZIP      10.5
FLT     10.5

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