Canna-Global Acquisition (CNGL) Short Interest Ratio & Short Volume

Short interest is the volume of Canna-Global Acquisition shares that have been sold short but have not yet been covered or closed out. As of June 30th, traders have sold 839,700 shares of CNGL short. 86.57% of Canna-Global Acquisition's shares are currently sold short. Learn More on Canna-Global Acquisition's current short interest.

The short interest ratio, also known as the "days to cover ratio", is calculated by dividing the number of shares of a stock sold short divided by its average trading volume. A short interest ratio ranging between 1 and 4 generally indicates strong positive sentiment about a stock and a lack of short sellers. A short interest ratio of 10 or greater indicates strong pessimism about a stock. CNGL shares currently have a short interest ratio of 10.0. Learn More on Canna-Global Acquisition's short interest ratio.

Companies that have a short interest as a percentage of float below 10% indicates positive investor sentiment and few short sellers. Stocks with a short interest percentage above 10% is considered high, suggesting some investors are pessimistic about the stock. Companies with a short interest percentage of 20% or more indicates widespread negative sentiment. 86.57% of Canna-Global Acquisition's floating shares are currently sold short.

Canna-Global Acquisition saw a increase in short interest in the month of June. As of June 30th, there was short interest totaling 839,700 shares, an increase of 839,600.0% from the previous total of 100 shares. Changes in short volume can be used to identify positive and negative investor sentiment. Investors that short sell a stock are betting that its price will decline in the future. An increase in short sale volume suggests bearish (negative) sentiment among investors. A decrease on short sale volume suggests bullish (positive) sentiment.

Canna-Global Acquisition currently has issued a total of 6,610,000 shares. Some of Canna-Global Acquisition's outstanding shares are available for trading, while others are subject to various restrictions. The public float, also referred to as floating shares or "the float", are shares that publicly owned, unrestricted and available to trade on the open market. Canna-Global Acquisition currently has a public float of 970,000 shares.

86.57% of Canna-Global Acquisition's shares are currently sold short. Here is how the short interest of companies in the industry of "computer software" compare to Canna-Global Acquisition: Telos Co. (4.47%), TruBridge, Inc. (2.14%), PLAYSTUDIOS, Inc. (0.44%), Golden Matrix Group, Inc. (6.59%), Asure Software, Inc. (3.03%), Silvaco Group, Inc. (18.05%), Inspired Entertainment, Inc. (2.08%), Alpha Technology Group Limited (2.75%), Sangoma Technologies Co. (0.05%), AudioEye, Inc. (11.31%),

As of the most recent reporting period, the following stocks had the largest short interest positions: Charter Communications, Inc. ($3.71 billion), TC Energy Co. ($2.95 billion), Moderna, Inc. ($2.63 billion), Royal Caribbean Cruises Ltd. ($2.53 billion), Paychex, Inc. ($2.03 billion), Cencora, Inc. ($2.03 billion), Tractor Supply ($1.91 billion), Rivian Automotive, Inc. ($1.78 billion), Chesapeake Energy Co. ($1.50 billion), and United Therapeutics Co. ($1.40 billion). View all of the most shorted stocks.

Short selling CNGL is an investing strategy that aims to generate trading profit from Canna-Global Acquisition as its price is falling. To short a stock, an investor borrows shares, sells them and buys the shares back on the public market later to return it to the lender. Short sellers are betting that a stock will decline in price. If the stock does drop after selling, the short seller buys it back at a lower price and returns it to the lender. The difference between the sell price and the buy price is the trader's profit.

A short squeeze for Canna-Global Acquisition occurs when it has a large amount of short interest and its stock appreciates in price. This forces short sellers to cover their short interest positions by buying actual shares of CNGL, which in turn drives the price of the stock up even further.

Short interest is typically published by a stock exchange once per month. However, NASDAQ publishes a report for U.S. stocks, including CNGL, twice per month. The most recent reporting period available is June, 30 2024.