Weekly Report · Week 22, 2026
25 May 2026 — 29 May 2026
The week’s standout move was PLS, where short interest surged from 6.50% to 11.53% (+5.03%) — a huge shift for a large-cap name. LOT stayed the most shorted stock at 19.54% (+1.20%), while shorts backed off hard in PNV (11.63% to 8.02%, -3.61%) and ARU (6.06% to 2.89%, -3.17%).
By Shorted AI Research · Published · Sourced from official ASIC short position reports (T+4 delay). Methodology · Not financial advice.
PLS just delivered the kind of weekly short move that makes you sit up: 6.50% to 11.53% (+5.03%). That’s not “tweaking exposure” — that’s a crowd trade, and it dragged lithium back into the centre of the short conversation on the ASX.1
At the top, LOT remains the market’s favourite short at 19.54% after another lift from 18.33% (+1.20%).2 DMP (15.20%, -0.07%) and TLX (15.15%, +0.17%) are basically steady, suggesting conviction is already high and the marginal changes are small.1 BOE sits at 14.33% (+0.15%), keeping uranium well represented alongside LOT.1 On the consumer side, shorts eased in TWE (13.07%, -0.51%), GYG (12.66%, -0.34%), CAR (11.24%, -0.28%) and FLT (10.77%, -0.52%).1 That’s a subtle “less aggressive” tone in discretionary and travel, even while the overall market average short position ticked up +0.02% WoW to 1.53% across 688 stocks.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.
PLS is the headline: a +5.03% jump in short interest in one week is extreme by ASX standards.1 The fundamental backdrop gives shorts a clean narrative: FY25 revenue declined 39% to $769M and the company posted a statutory loss after tax of $196M (with an underlying loss after tax of $88M), even as cash margin from operations was $192M.3 In other words, cash generation exists, but earnings are ugly — and shorts are leaning into that. On the other side, PNV saw a sharp unwind: 11.63% to 8.02% (-3.61%).1 That’s consistent with a business that printed FY25 net profit after tax of $13.2M and total revenue of $129.2M (with NovoSorb group sales of $118.6M).4 ARU also saw a big de-risking move (6.06% to 2.89%, -3.17%), and BAP eased from 10.94% to 9.41% (-1.53%).1 Meanwhile, shorts also lifted in ASX (2.29% to 3.24%, +0.94%) and 4DX (9.14% to 10.06%, +0.92%), the latter a classic high-beta setup with a beta of 2.01.15
Two sector stories jump out. First, resources is where the aggression is: LOT (19.54%, +1.20%) and BOE (14.33%, +0.15%) keep uranium crowded, while PLS (+5.03% to 11.53%) shows shorts are happy to press lithium when the numbers look weak.13 Second, the consumer complex looks like it’s getting a small reprieve: TWE (-0.51%), GYG (-0.34%), FLT (-0.52%) and CAR (-0.28%) all saw shorts trim rather than add.1
Watch whether PLS short interest keeps climbing from 11.53% — after a +5.03% week, the next move tends to be either a continuation or a violent reversal.1 Also keep an eye on whether LOT can hold below 19.54% short if uranium sentiment turns, because it’s already the market’s max short position this week.1
PLS: short interest rose from 6.50% to 11.53%, a +5.03% move week-on-week.[ref-1]
LOT is #1 at 19.54% short, up from 18.33% (+1.20%).[ref-1]
PNV fell from 11.63% to 8.02% (-3.61%) and ARU fell from 6.06% to 2.89% (-3.17%).[ref-1]
PLS reported FY25 revenue declined 39% to $769M and a statutory loss after tax of $196M (with an underlying loss after tax of $88M), which gives shorts plenty of ammunition.[ref-3]
Across 688 stocks, the average short position is 1.53%, with an average week-on-week change of +0.02%.[ref-1]
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.
