AMC Entertainment Holdings (AMC), AIRSHARES EU CARBON (ASO), Accelerate Diagnostics (AXDX), Bed Bath & Beyond (BBBY), Best Buy Co. (BBY), National Beverage (FIZZ), Gamestop Corp. (GME), Ligand Pharmaceuticals Incorporated (LGND), Macerich Company (MAC), Tanger Factory Outlet Centers (SKT), SunPower (SPWR), Tootsie Roll Industries (TR) – 10 best-selling stocks on the Russell 3000

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Last week, members of the Reddit WallStreetBets forum were able to do a brief squeeze of the history books by banding together to take hedge fund bets against GameStop Corp. (NYSE: GME).

GameStop targeting worked well for the Reddit community as GameStop had a very high short interest – over 130% at the time – and a relatively small float of 51 million. However, the short squeeze was a big deal for Melvin Capital, who was forced to close their entire GameStop short position for a loss. Melvin Capital subsequently demanded that Citadel and Point72 inject $ 3 billion into its fund to strengthen its finances.

The retail community targets stocks with the highest percentage of short-term interest to force institutions to hedge their positions, which helps drive the share price up significantly. Small retail investors, large hedge funds and financial institutions may be wondering which stock they will successfully target.

Related Link: Short Salesman Joins Benzinga’s “Power Hour” to Talk GameStop. The rest is history

Below are the top 10 selling stocks on the Russell 3000 as of January 29, 2021:

  • Accelerate Diagnostics Inc. (NASDAQ: AXDX): Market cap of $ 600 million with total free float of 31.03 shares and 45% short.
  • Sports and Outdoor Academy Inc (NASDAQ: ASO): Market cap of $ 1.9 billion with total free float of 21.07 million shares and 45% short.
  • AMC Entertainment Holdings (NYSE: AMC): Market cap of $ 2 billion with 56.56 million total free float and 58% short.
  • Bed bath and beyond (NYSE: BBBY): Market cap of $ 4.3 billion with total free float of $ 230.80 million and 63% short.
  • Ligand Pharmaceuticals Inc. (NASDAQ: LGND): Market cap of $ 3 billion with 15.34 million total free float and 65% short.
  • Macerich Co (NASDAQ: MAC): Market cap of $ 2.3 billion with total free float of 137.99 shares and 57% short.
  • National Beverage Corp (NASDAQ: FIZZ): Market cap of $ 7.1 billion with 11.64 million total free float and 63% short.
  • SunPower Corporation (NASDAQ: SPWR): Market cap of $ 9.2 billion with total free float of 80.91 million and 57% short.
  • Tangier Factory Centers Inc. (NYSE: SKT): Market cap of $ 1.4 billion with total free float of 90.15 shares and 57% short.
  • Tootsie Roll Industries, Inc. (NYSE: TR): Market cap of $ 2.6 billion with free float of 16.11 million shares and 46% short.
  • (Photo by Giorgio Trova on Unsplash)

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



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