The 10 Most Shorted ASX Stocks · Week 51, 2025
15 Dec 2025 — 19 Dec 2025
BOE is still the market’s most shorted stock at 21.49% despite a -0.88% WoW trim, while the top 10 remains stacked with consumer and uranium battlegrounds. The week’s loudest message was new conviction outside the leaders: GGP surged 1.03% → 3.34% (+2.31%) and LNW jumped 0.31% → 2.49% (+2.18%). Covering was just as decisive in CUV (12.15% → 9.47%, -2.68%) and IPH (11.06% → 9.05%, -2.02%).
By Shorted AI Research · Published · Sourced from official ASIC short position reports (T+4 delay). Methodology · Not financial advice.
BOE is still wearing the crown at 21.49% short, but the cleaner tell this week was where shorts went shopping. GGP leapt from 1.03% to 3.34% (+2.31%) and LNW from 0.31% to 2.49% (+2.18%) in a single week. That’s not housekeeping. That’s a new position being built. 1
The top end is still a familiar list of crowded trades: BOE 21.49%, DMP 17.91%, GYG 13.63% and PDN 13.55%. But the tone inside the top 10 was mixed. BOE eased by -0.88% WoW, yet it remains the maximum short position in the market at 21.49%. PDN went the other way, up +0.46% to 13.55% — the uranium debate is alive, just not uniform. 1 In consumer, the pressure stayed on. DMP ticked up +0.12% to 17.91%, GYG added +0.36% to 13.63%, and IEL was the standout add inside the top 10 with +0.90% to 12.39%. If you’re looking for where the market still wants to fade optimism, it’s right there in the tape. 1
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.
Start with the new money. GGP posted the biggest weekly rise in short interest: 1.03% → 3.34% (+2.31%). LNW was close behind at 0.31% → 2.49% (+2.18%). CYL also drew fresh attention, rising 1.28% → 2.76% (+1.48%). These aren’t crowded names being tweaked — they’re shorts being switched on. 1 Then there’s the uranium split-screen. BOE was covered (-0.88%), but SLX climbed 6.53% → 7.91% (+1.38%) and PDN rose +0.46% to 13.55%. SLX gives sceptics plenty of ammunition on the numbers: FY2025 revenue of $12.204289 million and a FY2025 net loss of $42.557236 million. 1 2 On the unwind side, CUV was the cleanest exit: 12.15% → 9.47% (-2.68%). That’s a big de-crowding against a company that reported FY2025 revenue of $95.017570 million and FY2025 net profit of $36.172518 million. IPH also saw sharp covering (11.06% → 9.05%, -2.02%) after reporting FY25 revenue of $706.2 million and FY25 profit of $68.8 million. 1 3 4 PLS joined the cover list too, down 10.26% → 9.15% (-1.11%). The fundamentals are still rough — FY2025 revenue of $768.850 million and a FY2025 net loss of $195.766 million — but the positioning says some shorts are taking chips off the table. 1 5
Zoom out and the market looks calm — until you hit the outliers. Average short interest sits at 1.27% across 672 stocks, and the WoW average change is -0.00%. That’s the backdrop for why moves like GGP (+2.31%) and CUV (-2.68%) matter: they’re big, deliberate swings against a flat market. 1 Sector-wise, consumer remains heavily shorted (DMP 17.91%, GYG 13.63%, FLT 10.53%), but the incremental flows this week were more telling in resources and adjacent trades: Materials saw new shorts in GGP (+2.31%) and CYL (+1.48%) even as PLS was covered (-1.11%). In uranium-linked names, the pressure broadened from producers (PDN +0.46%) into SLX (+1.38%) while BOE was trimmed (-0.88%). Rotation, not one-way traffic. 1
Watch whether the new shorts keep building in GGP (3.34%) and LNW (2.49%). If they add again, this week won’t read as a one-off spike — it’ll read as the start of a new crowded trade. 1
Boss Energy (BOE) is the most shorted at 21.49%.
Greatland Resources (GGP) rose from 1.03% to 3.34%, a +2.31% increase.
Clinuvel Pharmaceuticals (CUV) fell from 12.15% to 9.47%, a -2.68% move.
PLS short interest fell from 10.26% to 9.15% (-1.11%) this week, indicating covering.
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.
