The 10 Most Shorted ASX Stocks · Week 4, 2026
LOT shorts vanish: 8.19% to 0.02% in one week
19 Jan 2026 — 23 Jan 2026
This week’s short tape had one genuine “what just happened?” moment: LOT collapsed from 8.19% short to 0.02% (change: -8.17%). Up top, DMP stayed the most shorted name at 16.97% (WoW change: -0.45%), while uranium shorts were unwound hard in BOE to 16.18% (WoW change: -2.54%) and PDN to 10.79% (WoW change: -1.34%). Market-wide positioning eased, with 698 stocks shorted, an average short % of 1.18%, and a WoW average change of -0.09%.
By Shorted AI Research · Published · Sourced from official ASIC short position reports (T+4 delay). Methodology · Not financial advice.
This Week's Analysis
LOT didn’t drift lower. It fell off a cliff. Short interest went from 8.19% to 0.02% in a single week (change: -8.17%) — the biggest move on the board by a country mile. When a position disappears that fast, it’s usually not a change of mind. It’s a trade ending, or a risk manager winning an argument. Either way, the tape is screaming: the crowd left. 1
DMP keeps the crown as the most shorted stock at 16.97%, even after a week-on-week trim of -0.45%. The market still wants to fade the pizza story, but it’s not pressing harder this week. 1 BOE remains heavily shorted at 16.18%, yet the bigger message is the unwind: BOE was 18.72% last week (change: -2.54%). That’s not a tidy rebalance — that’s size coming off. 1 The rest of the top 10 reads like a split screen. “Crowded and stable”: GYG at 13.71% (WoW change: -0.08%). “Crowded and building”: TWE at 13.33% (WoW change: +0.37%), IEL at 12.84% (WoW change: +0.59%), PNV at 12.09% (WoW change: +0.52%), FLT at 11.50% (WoW change: +0.59%), TLX at 11.42% (WoW change: +0.32%), and DRO at 10.05% (WoW change: +0.11%). 1
Daily Snapshots
Top Shorted Stocks This Week
Financial Snapshot
Key financial metrics from recent company reports for the most shorted stocks.
Biggest Risers
Stocks with the largest increase in short interest this week.
Biggest Fallers
Stocks with the largest decrease in short interest this week.
Movers Analysis
Start with the obvious: LOT’s short register was effectively wiped. 8.19% to 0.02% (change: -8.17%). 1 Then the uranium unwind broadened. BOE dropped from 18.72% to 16.18% (change: -2.54%) and PDN dropped from 12.13% to 10.79% (change: -1.34%). PDN’s latest interim filing still shows a loss after tax of -9.928 in Q1 FY2026 and basic loss per share of -1.51c, so this week reads more like positioning discipline than a sudden love letter to the fundamentals. 1 4 On the other side of the ledger, fresh shorts showed up where they weren’t before. AMC jumped from 0.04% to 1.46% (change: +1.42%) and WAF from 0.10% to 1.22% (change: +1.12%). Neither is a high absolute short, but both are clean “new money” signals. 1 The cleanest ‘press’ inside the crowded names was IEL: 12.25% to 12.84% (change: +0.59%). That’s a stock where the shorts can point to FY2025 revenue of 882.201 and statutory net profit for the year of 45.516, with revenue down -15 and net profit down -66 — and keep leaning. 1 2
Industry Positioning
Two themes ran in parallel. First: consumer-facing shorts stayed crowded. DMP is still 16.97% short, while IEL added to 12.84% (WoW change: +0.59%) and FLT added to 11.50% (WoW change: +0.59%). The trade is simple: keep pressure on the discretionary/consumer services complex where expectations can wobble. 1 Second: “expensive materials” attracted incremental heat even as uranium shorts were being cut. LYC rose from 7.45% to 8.24% (change: +0.78%). That’s happening alongside FY2025 revenue of 556.5 and profit from ordinary activities after tax attributable to members of 8.0 — numbers that can leave plenty of room for valuation arguments to do the heavy lifting. 1 3 Zoom out and the market isn’t in full attack mode: 698 stocks shorted, average short % of 1.18%, max short % of 16.97% (DMP), and a WoW average change of -0.09%. Less blanket aggression. More stock-specific conviction. 1
Outlook
One thing to watch next week: whether the uranium unwind keeps rolling. If BOE keeps sliding from 16.18% and PDN keeps sliding from 10.79% after LOT’s 0.02% print, that’s the tape telling you the sector hedge is being dismantled — not just rotated. 1
Frequently Asked Questions
Why would a stock’s short interest drop from 8.19% to 0.02% in one week?
It means short positions were closed very quickly (buying back stock), or a specific structure/hedge rolled off. In LOT’s case the reported short interest moved from 8.19% to 0.02% (change: -8.17%) in the 2026-01-23 report. [ref-1]
What is the most shorted ASX stock this week?
Domino’s Pizza Enterprises (DMP) is the most shorted at 16.97% in the 2026-01-23 report (WoW change: -0.45%). [ref-1]
Which stocks had the biggest week-on-week increases in short interest?
AMC rose from 0.04% to 1.46% (change: +1.42%), WAF rose from 0.10% to 1.22% (change: +1.12%), and LYC rose from 7.45% to 8.24% (change: +0.78%). [ref-1]
Are shorts still adding to IDP Education (IEL)?
Yes. IEL increased from 12.25% to 12.84% (change: +0.59%) in the 2026-01-23 report. [ref-1]
Sources
- Shorted.com.au weekly short interest report data (Week 2026-W04, Report Date 2026-01-23, Previous Date 2026-01-16)(2026-01-23) [asic data]
- IDP Education (IEL) Appendix 4E and Annual Report(2025-08-28) [financial report]
- Lynas Rare Earths (LYC) Appendix 4E and 2025 Annual Report(2025-08-28) [financial report]
- Paladin Energy (PDN) Interim Financial Report (Canadian document filing)(2025-11-13) [financial report]
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.