To The Moon

Intel, Opendoor, Tesla, SMCI, Rocket, Nike Saw Rising Short Volume

Intel saw the biggest increase in trading of borrowed shares that were sold short as the stock almost doubled from its low in April, raising the risk of a squeeze for speculators that bet against the legacy semiconductor company. $Opendoor Technologies Inc(OPEN)$  , $Tesla Motors(TSLA)$  , $SUPER MICRO COMPUTER INC(SMCI)$  , $Rocket Companies(RKT)$   and $Nike(NKE)$   also had higher short volume. 

Short volume on $Intel (INTC.US)$ rose to 27.5 million shares Wednesday, from 12.5 million a day earlier. That's the biggest change in volume by percentage among the stocks with a market capital of at least $5 billion. That volume surged as the stock jumped another 7% after Semafor reported that the company was in early talks with $Advanced Micro Devices (AMD.US)$ to turn its rival into a manufacturing customer. 

Short sellers have been retreating since mid-February, when the short interest, or the tally of borrowed shares that were sold short and have not yet been closed reached 137.8 million shares, the highest level since September 2020. That short interest has fallen to 101.5 million, or about 2.17% of the shares that are available for trading, according to exchange data as of Sept. 15. 

The tide has turned for Intel after the legacy company that was once the dominant player in the semiconductor industry won support from the U.S. government that's seeking to end the nation's reliance on imports of chips that power data centers and electronic devices.  

In August, Intel said the U.S. Department of Commerce agreed to invest $8.87 billion in the company in exchange for as much as 433.3 million Intel shares. That was followed by a $5 billion investment from $NVIDIA (NVDA.US)$ last month. 

See the details on the change in short volume for $Nike (NKE.US)$, Opendoor, $Grab Holdings (GRAB.US)$, SMCI, $Fermi (FRMI.US)$ and others below:

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