Canna-Global Acquisition (CNGLW) 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 closed out or covered. As of June 30th, traders have sold 25,700 shares of CNGLW 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. CNGLW shares currently have a short interest ratio of 6.0. Learn More on Canna-Global Acquisition's short interest ratio.

Canna-Global Acquisition saw a decline in short interest during the month of June. As of June 30th, there was short interest totaling 25,700 shares, a decline of 14.3% from the previous total of 30,000 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.

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 CNGLW 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 CNGLW, 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 CNGLW, twice per month. The most recent reporting period available is June, 30 2024.