What do Emerald Health Therapeutics Inc (CVE:EMH) (OTCMKTS:EMHTF), Cannabis Wheaton Income Corp (CVE:CBW) (OTCMKTS:CBWTF), Newstrike Resources Ltd (CVE:HIP) (OTCMKTS:NWKRF), The Hydropothecary Corp (CVE:THCX) (OTCMKTS:HYYDF) and AbCann Global Corp (CVE:ABCN) (OTCMKTS: ABCCF) have in common? As the headline suggests, they’re the most shorted companies (by $ value) on the TSX Venture Exchange since February 28. Considering the cannabis sector is showing signs of breaking out, short sellers may be rather uncomfortable at the moment.
Leading the pack are Emerald Health Therapeutics and Cannabis Wheaton Income. Both companies finished 1-2 in total net short traded value on the TSX-V, and both finished 1-3 respectively in largest net short increases by traded value. Below is the latest data:
Largest Short Positions, 16 Mar 2018 ($CAD) Company Name Symbol 15 Mar 2018 28 Feb 2018 Net Change % Change % Total Traded Value EMH Emerald Health Therapeutics, Inc. 51,220,918 26,444,175 24,776,743 48.37% 33.563 CBW Cannabis Wheaton Income Corp. 42,397,757 27,529,062 14,868,695 35.07% 38.046 HIP Newstrike Resources Ltd. 32,192,675 24,495,476 7,697,199 23.91% 24.803 THCX The Hydropothecary Corporation 22,114,588 17,894,466 4,220,122 19.08% 21.054 ABCN Abcann Global Corporation 18,895,418 20,267,714 -1,372,296 -7.26% 32.478 Largest Net Increases, 16 Mar 2018 Company Name Symbol 15 Mar 2018 28 Feb 2018 Net Change % Change EMH Emerald Health Therapeutics, Inc. 51,220,918 26,444,175 24,776,743 48.37% JET Canada Jetlines Ltd. 18,085,641 1,628,753 16,456,888 90.99% CBW Cannabis Wheaton Income Corp. 42,397,757 27,529,062 14,868,695 35.07%
While none of these aggregate dollars shorts are particularly extreme (short sellers were more active at the January 2018 sector highs), it does show cannabis stocks continue to be targeted on bounces. That includes sector leader Canopy Growth Corp (TSE:WEED) (OTCMKTS:TWMJF) (FRA:11L1) corporation, which saw its own $CAD short interest rise 31.34% from February 28-March 15. So far that’s a call which is decidedly underwater.
Aside from Emerald Health, perhaps