Meme Stock Fever Breaks: Kohl's and Krispy Kreme Short Interest Rises

The Short Interest Report highlights changes in short interest among high-short-float stocks. Kohls and Krispy Kreme have seen short interest decrease, while Apellis Pharmaceuticals, Pagaya Technologies, and Mara Holdings have seen an increase in short interest as a percentage of free float. The report also notes that some stocks, such as Apellis, have experienced significant price surges following Q2 results, leading to a rise in days-to-cover ratios.

Short interest, a measure of the number of shares sold short relative to the total number of shares available for trading, has shown notable changes among high-short-float stocks. This report highlights the recent shifts, particularly focusing on Kohl's Corporation (KSS), Krispy Kreme (KKD), Apellis Pharmaceuticals (APLL), Pagaya Technologies (PGY), and Mara Holdings (MARA).

Decreasing Short Interest

Kohl's Corporation (KSS) and Krispy Kreme (KKD) have seen a decrease in their short interest as a percentage of their free float. This decrease suggests that investors are becoming less bearish on these companies, potentially due to positive earnings reports or other favorable developments.

Increasing Short Interest

Apellis Pharmaceuticals (APLL), Pagaya Technologies (PGY), and Mara Holdings (MARA) have experienced an increase in their short interest as a percentage of their free float. This increase indicates that more investors are taking short positions on these stocks, possibly due to concerns about future performance or regulatory issues.

Impact on Price and Days-to-Cover Ratios

The Q2 2025 results for some of these companies have led to significant price surges, notably for Apellis Pharmaceuticals (APLL). This price surge has resulted in a rise in their days-to-cover ratios, which measure the number of days it would take for short sellers to cover their positions if the stock price were to fall. A higher days-to-cover ratio suggests that short sellers are more confident in their bearish positions.

Pagaya Technologies (PGY)

Pagaya Technologies (PGY) reported strong Q2 2025 earnings, with a record GAAP net income of $16.7 million, up from a net loss of $74.8 million in the prior year. The company's total revenue increased by 31% year-over-year (YoY) to $317.7 million, driven by a 31% rise in network AI fees and a 52.9% growth in contract fees. Despite the positive earnings report, the stock price of Pagaya Technologies declined 14.94% during the latest trading day, indicating that the market is still cautious about the company's prospects [1].

Conclusion

The shifts in short interest among these high-short-float stocks reflect the market's changing sentiment. While some companies are seeing a decrease in short interest, others are experiencing an increase. This report underscores the importance of monitoring short interest as an indicator of market sentiment and potential future price movements.

References

[1] https://www.ainvest.com/news/pagaya-technologies-2025-q2-earnings-strong-performance-net-income-surges-120-2508/
[2] https://www.ainvest.com/news/globant-sets-ambitious-2025-targets-q2-results-2508/
[3] https://simplywall.st/stocks/us/software/nasdaq-pgy/pagaya-technologies/news/return-to-profitability-and-raised-guidance-could-be-a-game