The 10 Most Shorted ASX Stocks · Week 36, 2024
2 Sept 2024 — 6 Sept 2024
Week 36 belonged to one trade: PointsBet (PBH) short interest gapped from 0.79% to 5.46% (+4.67%), a step-change in positioning. Up top, Pilbara Minerals (PLS) stayed the ASX’s most shorted stock at 20.21% (-0.14%), while the battery-materials block kept absorbing fresh shorts (LYC +0.52% to 10.99%, LTR +0.30% to 11.00%). Market-wide shorting barely moved (average short 1.24%, period average change +0.03%) — the action was stock-specific and loud.
By Shorted AI Research · Published · Sourced from official ASIC short position reports (T+4 delay). Methodology · Not financial advice.
PBH didn’t drift higher on the short register — it teleported. In one week, short interest jumped from 0.79% to 5.46% (+4.67%). That’s not “sentiment”. That’s a campaign.
PLS remains the market’s favourite punching bag at 20.21% short, even after a small -0.14% WoW ease. At these levels the trade can feel saturated, but the message hasn’t changed: if you want a liquid ASX proxy for lithium pain, this is where shorts park size. IEL holds #2 at 14.00% (+0.30%). It’s the big non-resources outlier in the top 10, and the positioning reads like a straight bet against earnings visibility tied to international student mobility and policy risk. The rest of the top table is still dominated by “energy transition” names where execution risk meets commodity-price reality: SYR at 12.85% (+0.13%), LTR at 11.00% (+0.30%), LYC at 10.99% (+0.52%), and CHN at 10.50% (+0.36%). LYC’s +0.52% is the cleanest signal this week — a meaningful add in a large cap. Outside the miners, CTT is the consumer pressure point: 10.13% short after a +0.85% WoW lift. When a $193M retailer wears a double-digit short, the market is betting the demand/margin combo is about to disappoint. Energy stayed active: PDN rose to 10.10% (+0.56%) while STX fell to 9.96% (-0.50%). Same sector, different trades — shorts are fading liquid momentum (PDN) and stepping back from a smaller, more idiosyncratic setup (STX).
Key financial metrics from recent company reports for the most shorted stocks.
Stocks with the largest increase in short interest this week.
Stocks with the largest decrease in short interest this week.
Biggest riser: PBH (+4.67% to 5.46%). A move that large in a single week usually means institutional money has decided the risk/reward is skewed — commonly around strategy credibility, competitive intensity, or the funding path for growth. Next tier risers were more conventional but still telling: SIG up +0.99% (4.05% → 5.03%), KAR up +0.92% (5.51% → 6.43%), ORA up +0.87% (1.39% → 2.26%), and CTT up +0.85% (9.28% → 10.13%). That’s shorts leaning into healthcare valuation/integration questions (SIG), commodity sensitivity (KAR), cyclical volumes/margins (ORA), and consumer discretionary fragility (CTT). On the cover side, HLS was the cleanest unwind: 5.74% → 3.67% (-2.08%). That’s real covering, not noise — either the bear case weakened, or shorts didn’t want to sit around for a corporate catalyst. EDV also saw a decent retreat (2.82% → 1.73%, -1.09%), while MP1 eased (2.98% → 2.01%, -0.96%). LRS (2.48% → 1.76%, -0.71%) and BGL (6.49% → 5.78%, -0.71%) rounded out the covers — consistent with traders taking risk off in smaller resources positions where crowding can turn fast.
Materials is still where shorts feel safest. PLS (20.21%), SYR (12.85%), LTR (11.00%), LYC (10.99%), CHN (10.50%) and SYA (9.89%) keep the top 10 stacked with miners and developers — a blunt bet that battery-materials pricing and project execution won’t rescue equity stories quickly. Energy is split down the middle: shorts added to PDN (10.10%, +0.56%) and KAR (6.43%, +0.92%), but cut STX (9.96%, -0.50%). That’s selective positioning, not a sector-wide call. The consumer signal is sharper than the macro averages suggest. CTT pushed above 10% short while EDV de-risked to 1.73% — shorts aren’t “short the Aussie consumer” in a blanket way; they’re targeting where expectations look wrong and liquidity allows them to press.
Watch PBH next week for follow-through: if short interest builds again from 5.46%, it confirms a sustained push rather than a one-off rebalance. Second screen: LYC — another week like +0.52% would turn a steady build into a crowded trade.
PointsBet (PBH): 0.79% short to 5.46% short, a +4.67% week-on-week jump.
Pilbara Minerals (PLS) at 20.21% short (week-on-week change: -0.14%).
Yes. The top 10 includes PLS (20.21%), SYR (12.85%), LTR (11.00%), LYC (10.99%) and SYA (9.89%), with LYC up +0.52% and LTR up +0.30% this week.
Healius (HLS): short interest fell from 5.74% to 3.67% (change: -2.08%).
No. The average short interest was 1.24% and the period average change was +0.03%, so the week was driven by stock-specific moves rather than a broad lift in shorting.
Track the live rankings on the most shorted ASX stocks page, watch short squeeze candidates, or see market-wide totals in the ASX short selling statistics.
Data sourced from ASIC short position reports (T+4 delayed). This report is for informational purposes only and does not constitute financial advice. Short selling data may not reflect real-time market conditions.
