The 10 Most Shorted ASX Stocks · Week 45, 2024
4 Nov 2024 — 8 Nov 2024
The biggest new bet this week wasn’t lithium or uranium — it was Sigma Healthcare (SIG), where shorts jumped from 3.19% to 5.02% (+1.83%). Meanwhile the ASX’s most crowded short, Pilbara Minerals (PLS), stayed #1 at 17.95% but saw meaningful covering (19.13% → 17.95%, -1.18%). Uranium remains jammed: Paladin (PDN) lifted to 15.36% (+0.72%) with Boss (BOE) still at 15.28% (-0.14%).
By Shorted AI Research · Published · Sourced from official ASIC short position reports (T+4 delay). Methodology · Not financial advice.
A $36.5B healthcare name just pulled in a week’s worth of shorting you usually only see in small caps. SIG went 3.19% → 5.02% (+1.83%). That’s fresh money, not housekeeping.
PLS still wears the crown at 17.95%, but the -1.18% WoW move (19.13% → 17.95%) is the tell. Shorts didn’t abandon the lithium bear case — they just stopped pressing the most crowded trade on the board. Behind it, the uranium pile-on is getting harder to ignore. PDN is now #2 at 15.36% (+0.72%), BOE is #3 at 15.28% (-0.14%), and DYL sits at 9.91% (-0.02%). Three uranium names, all heavily shorted, all at once. The market’s message is simple: the commodity story can be fine, but the equity story lives and dies on delivery — ramp-ups, timelines, integration and guidance. IEL (14.77%, -0.12%) remains glued near the top. That’s the same trade it’s been for months: earnings sensitivity to student mobility, regulation and FX. DMP (9.24%, -0.04%) is steady too — shorts are still camped there, but nobody’s adding size this week. SYR (13.09%, +0.24%) is the quiet one worth clocking: it’s already high, and it still attracted incremental shorting.
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.
SIG was the standout riser: +1.83% (3.19% → 5.02%). In a stock this size, that sort of step-change usually means one thing: a catalyst trade. The cleanest read is deal/regulatory positioning — SIG is exactly the kind of name that attracts short sellers when the market starts gaming outcomes rather than fundamentals. SBM was next (+1.63%, 1.38% → 3.01%). Gold miners don’t get shorted like that because the gold price wobbles for a day; they get shorted when the market wants to fade execution. Then the unwind: SGR collapsed from 7.62% to 3.78% (-3.84%). That’s not a gentle trim. That’s covering with urgency — either profits being locked in, or risk being pulled ahead of a potential update where the payoff profile changes. PLS (-1.18%) also de-crowded, and so did LYC (9.58%, -0.43%) and LTR (9.80%, -0.30%). Same direction, same week: the resources shorts are rotating, not disappearing. One more for the tape: BCB went 1.27% → 0.02% (-1.25%). That’s basically an exit.
Zoom out and the board splits into two fights. First, Materials is still where shorts go to work. Lithium exposure dominates the top 10 via PLS (17.95%), MIN (9.95%) and LTR (9.80%), with SYR (13.09%) adding graphite flavour. Even with covering in PLS and LTR, the sector remains the market’s preferred hunting ground. Second, uranium is a crowded trade in both directions. PDN (15.36%), BOE (15.28%) and DYL (9.91%) sitting this high says the market is happy to argue about execution even while the long-term demand narrative stays popular. Outside resources, SIG’s jump is the week’s real signal: short sellers are rotating into large caps when there’s a clean, event-driven setup. This week, they picked healthcare.
Watch SIG’s next regulatory/deal headline and the next ASIC print: after a move from 3.19% to 5.02% in a week, the follow-through (or lack of it) will tell you whether this was a one-off trade or the start of a sustained campaign.
Sigma Healthcare (SIG) had the biggest rise, up +1.83% (3.19% → 5.02%). The Star Entertainment Group (SGR) had the biggest fall, down -3.84% (7.62% → 3.78%).
Pilbara Minerals (PLS) is the most shorted at 17.95%, down from 19.13% the week before (-1.18%).
Yes. PLS is at 17.95%, Mineral Resources (MIN) is at 9.95%, and Liontown Resources (LTR) is at 9.80%, even though PLS and LTR both saw shorts ease this week.
Paladin Energy (PDN) is at 15.36% (+0.72% WoW), Boss Energy (BOE) is at 15.28% (-0.14% WoW), and Deep Yellow (DYL) is at 9.91% (-0.02% WoW).
Across 630 stocks, the average short position is 1.21%, and the period average change was +0.01%, pointing to stock-specific moves rather than a broad market-wide shift.
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.
