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Opendoor, Intel, Nvidia, Palantir, Apple, Snap, IamGold See Rising Short Volume

Opendoor, $Intel (INTC.US)$, Nvidia, $Palantir (PLTR.US)$, $Apple (AAPL.US)$, $Snap Inc (SNAP.US)$, and $Iamgold (IAG.US)$ were among the stocks that saw rising volume for the trading of borrowed shares that were sold short as the stock market rally showed signs of stress.

Total short volume climbed to 42.95 million shares for $Opendoor Technologies (OPEN.US)$ on Thursday, from 18.75 million shares a day earlier, exchange data showed. That's the highest among U.S.-listed stocks with a market capital of at least $5 billion.

The jump in volume came as the stock of the online platform for real estate jumped more than 10% after quantitative trading firm Jane Street Group disclosed that it has acquired more than 44 million shares in Opendoor, representing a stake of about 5.9% in the company. 

The stock rally pushed Opendoor's closing price to $9.09 Thursday, approaching the $9.36 level where former hedge fund manager Martin Shkreli said he shorted the stock.

In the case of Nvidia, total short volume rose to 13.73 million shares, from 9.85 million shares a day earlier as the chip giant struggled to eke out a gain amid concerns over so-called vendor financing where the company has been investing in startups like OpenAI that in turn uses the money to buy its advanced chips. 

"These investments might be circular and raise related party concerns, as Nvidia may own shares in a customer that will likely use such funds to buy more Nvidia gear,” Morningstar analyst Brian Colello wrote in a note earlier this week.

Palantir saw its short volume doubled to 11.5 million shares, from 5.56 million as the stock retreated for a second day, paring the rally over the past year to more than 380%. The stock got swept under increasingly cautious investor sentiment after the AI frenzy pushed up valuation. 

As of yesterday, Palantir's stock was trading at 276X forward earnings, compared with 39X for Nvidia, which is the dominant player in the AI industry. 

See other notable changes in short volume for Intel, $Snap Inc (SNAP.US)$, Apple, $Nu Holdings (NU.US)$, Iamgold, First Majestic Silver and others in chart below:   

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