Oracle, Super Micro, Snap, Rocket, UiPath, Toast See Short Volume Jump

Luzi Ann Santos joined discussion · Sep 23 08:58

$Oracle (ORCL.US)$ saw its short volume climb Monday when the stock climbed near its all-time high, strengthening the case for short sellers to close out their positions to avoid a squeeze.

Shares rose 6.3% Monday, after the company promoted two of its presidents to co-CEOs amid a push to scale its cloud computing business and expand its artificial intelligence applications. The stock also got a boost from news reports Oracle will secure the data of users on the U.S. version of TikTok under a deal that will turn over control of the social media app to the U.S. It will also allow Oracle to see how the algorithm works, according to the reports.

Oracle, Super Micro, Snap, Rocket, UiPath, Toast See Short Volume Jump

Trading on borrowed Oracle stocks rose 6.9 million shares Monday. While that's up from 4.51 million in the previous session, it's still below the average of 10.6 million shares as of Aug. 29, when the short interest, or the total number of shares sold short that have not yet been closed out or covered was at 21.48 million.

Meanwhile, $Snap Inc (SNAP.US)$ saw its short volume surge almost 70% to 19.29 million shares Monday, the biggest increase among U.S.-listed stocks with a market capital of at least $5 billion that are tracked by moomoo. Still, that volume is below the average of 52.44 million shares seen as of Aug. 29, when the short interest was at 143.87 million shares.