TERADAT SANTIVIVUT
As Wall Street approaches the end of the first quarter, the major U.S. equity averages are trading higher for 2023 so far, despite the turmoil caused by the bank crisis. Still, many traders have made large bets against a handful of well-known names, including Silvergate Capital (NYSE:SI), which has already lost nearly 90% of its value since the close of last year.
For reference, short interest refers to the number of shares that have been sold short on a position and remain outstanding. Investors and traders will usually look to use short interest as a barometer to gauge the current sentiment of an underlying position.
See below the top 10 stocks with the current highest short interest stakes on Wall Street:
Top 10 Stocks with the Highest Short Interest
No. 10: RumbleON, Inc. (RMBL) short interest 28.31%.
No. 9: Gossamer Bio (GOSS), short interest 29.13%.
No. 8: PMV Pharmaceuticals (PMVP) short interest 30.45%.
No. 7: Groupon (NASDAQ:GRPN), short interest 30.73%.
No. 6: WeWork (WE), short interest 34.31%.
No. 5: Tattooed Chef (TTCF), short interest 35.04%.
No. 4: Novavax (NASDAQ:NVAX), short interest 38.70%.
No. 3: Design Therapeutics (DSGN), short interest 41.23%.
No. 2: Silvergate Capital Corporation (SI), short interest 71.64%.
No. 1: Bed Bath & Beyond (NASDAQ:BBBY), short interest 72.23%.
In broader financial news, stock averages are higher on Monday with some hope for more stability in the banking arena.