Short Report: Bearish bets on Groupon at record high

Welcome to this week’s installment of “The Short Interest Report” – The Fly’s weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner Ortex.com, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 7.7%, the Nasdaq Composite was up 3.2%, the Russell 2000 index was up 0.9%, the Russell 2000 Growth ETF (IWO) was up 1.5% and the Russell 2000 Value ETF (IWN) was flat in the five-day trading session range through May 14.

SHORT INTEREST GAINERS

• Ortex-reported short interest on Groupon (GRPN) has been rising steadily since mid-February, though this week, the increase in bearish positioning on the name has been particularly pronounced. Short interest as a percentage of free float on Groupon spiked from 48% to 57.1% – the highest level on record – with bears undeterred by the recent improvement in sentiment Shares have doubled since mid-March lows, though the stock has merely erased its earlier 2026 losses and is now flat on the year. In the five-day period covered, Groupon shares are up 11%.
• Ortex-reported short interest on Lucid Group (LCID) troughed at three-week lows of 27% as the downward momentum in the stock price seen through the second half of April so no follow-through despite the company reporting worse-than-expected Q1 results on May 5. This week however, short interest as a percentage of free float jumped to 35%, the highest level in about three months, with days to cover on the name up from 4.1 to 4.8. The stock saw multiple price target cuts since the company reported results, with analysts pointing to the company pulling its 2026 guidance to allow Lucid’s new CEO to review the firm’s projections. In the 5-day period covered through Thursday of this week, the premium EV maker traded up 3.6%, though the stock is down 3% on Friday and remains lower by 42% year-to-date.
• Ortex-reported short interest on Dave & Busters (PLAY) troughed at 2026 lows of 30% on April 27. Bears refreshed their exposure, however, as the stock price continued to slide in the first half of May. This week, short interest as a percentage of free float jumped from 32.3% to 38.9%, the highest level since the second week of March, with the reversal in bearish flows also supported by the official exchange data rising from 34% to 38% through April-end. Days-to-cover on Dave & Busters was also up from 5.0 to 5.7, according to Ortex. The company reports its earnings off season, and with its latest Q4 covering February-end, investors have yet to see the extent to which rising inflation impacted discretionary spending in entertainment. This week shares of Dave & Buster’s were down 2% through Thursday, though year-to-date the stock is off by 37%.

SHORT INTEREST DECLINERS

• Ortex-reported short interest on Rumble (RUM) peaked at 26% in the final week of April, but with the stock sustaining its upward momentum, bearish positions have been getting washed out over recent days. In the five-day period covered through Thursday, short interest as a percentage of free float slid from 24.7% to 19.6% days to cover on the name caved from 11.7 to 8.7 despite the elevated trading volume. The stock was up 9.4% in the period and has now rallied about 75% from its late March lows through Thursday close, though Rumble is down over 10% on Friday at the time of writing, caught up in the broader market downdraft as well as in response to the company’s Q1 results showing widening loss relative to last year in spite of record revenue.