DraftKings (DKNG) Short Interest Ratio & Short Volume

Short interest is the volume of DraftKings shares that have been sold short but have not yet been covered or closed out. As of May 15th, investors have sold 16,760,000 shares of DKNG short. Learn More on DraftKings' 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. DKNG shares currently have a short interest ratio of 2.0. Learn More on DraftKings's short interest ratio.

As of the most recent reporting period, the following institutional investors, funds, and major shareholders have reported short positions of DraftKings: Walleye Trading LLC, Jane Street Group LLC, Interval Partners LP, PEAK6 Investments LLC, Twin Tree Management LP, Concourse Financial Group Securities Inc., Simplex Trading LLC, and Goldman Sachs Group Inc.. These positions are disclosed in Form 13F filings with the Securities and Exchange Commission.

DraftKings saw a drop in short interest during the month of May. As of May 15th, there was short interest totaling 16,760,000 shares, a drop of 10.5% from the previous total of 18,730,000 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.

Here is how the short interest of companies compare to DraftKings: Royal Caribbean Cruises Ltd. (6.68%), Trip.com Group Limited (1.84%), Charter Communications, Inc. (12.46%), Lululemon Athletica Inc. (3.64%), Electronic Arts Inc. (2.25%), Las Vegas Sands Corp. (1.92%), Take-Two Interactive Software, Inc. (4.32%), Hilton Worldwide Holdings Inc. (1.33%), Live Nation Entertainment, Inc. (7.77%), On Holding AG (18.38%),

As of the most recent reporting period, the following stocks had the largest short interest positions: T-Mobile US, Inc. ($3.81 billion), Charter Communications, Inc. ($3.30 billion), Occidental Petroleum Co. ($3.10 billion), General Motors ($2.84 billion), Moderna, Inc. ($2.77 billion), AppLovin Co. ($2.22 billion), Royal Caribbean Cruises Ltd. ($2.22 billion), Coinbase Global, Inc. ($2.16 billion), Tractor Supply ($2.12 billion), and Williams-Sonoma, Inc. ($2.12 billion). View all of the most shorted stocks.

Short selling DKNG is an investing strategy that aims to generate trading profit from DraftKings as its price is falling. DKNG shares are trading down $4.20 today. 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 DraftKings occurs when it has a large amount of short interest and its stock increases in price. This forces short sellers to cover their short interest positions by buying actual shares of DKNG, 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 DKNG, twice per month. The most recent reporting period available is May, 15 2024.