• Flight Centre remains most shorted stock on ASX despite its share price rising more than 27% YTD
  • Megaport remains the second most shorted ASX stock with its CEO resigning suddenly in May
  • Several lithium stocks caught attention of short sellers including hotter-than-hot Liontown Resources

How does shorting work?

Short sellers effectively borrow a stock from a broker, and go wager it (sell it) on the open market. The plan is to then buy the same stock back later after it’s made a hefty drop in price. That done, the short seller buys it back at the lower price and returns it to the lender.

The difference between the sell price and the buy price is the short seller’s profit. Investors are in effect betting they will fall.

Because shorting is restricted under Australian law (and because it’s an all or nothing bloodsport) any substantial shorting of stocks is worth knowing about, even if you only trade long.

And perhaps there’s method in the madness.

Stockhead has utilised the number of short positions as a percentage of total shares on issue. The most ASX shorted stocks  (excluding CDIs) all have 5% or more.

The most shorted stocks on ASX

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Short positions Shares on issue % short positions
FLT FLIGHT CENTRE TRAVEL ORDINARY 25,687,667 217,957,864 12%
MP1 MEGAPORT LIMITED ORDINARY 16,516,189 158,423,600 10%
ZIP ZIP CO LTD ORDINARY 77,781,728 768,865,865 10%
CXO CORE LITHIUM ORDINARY 178,590,912 1,855,016,794 10%
SYA SAYONA MINING LTD ORDINARY 813,241,350 8,885,458,530 9%
TPW TEMPLE & WEBSTER LTD ORDINARY 9,441,329 122,949,702 8%
PBH POINTSBET HOLDINGS ORDINARY 22,566,805 306,857,645 7%
BRG BREVILLE GROUP LTD ORDINARY 10,432,930 142,781,365 7%
AMA AMA GROUP LIMITED ORDINARY 77,542,353 1,073,070,217 7%
BRN BRAINCHIP LTD ORDINARY 126,422,210 1,767,058,145 7%
NXT NEXTDC LIMITED ORDINARY 32,448,387 457,429,783 7%
VUL VULCAN ENERGY ORDINARY 9,868,578 143,435,301 7%
JBH JB HI-FI LIMITED ORDINARY 7,160,434 109,333,981 7%
LKE LAKE RESOURCES ORDINARY 93,092,339 1,422,444,707 7%
MSB MESOBLAST LIMITED ORDINARY 46,636,434 737,121,218 6%
JRV JERVOIS GLOBAL LTD ORDINARY 129,743,485 2,079,260,963 6%
CCP CREDIT CORP GROUP ORDINARY 4,134,980 68,066,856 6%
BOQ BANK OF QUEENSLAND. ORDINARY 39,386,928 652,485,010 6%
ARB ARB CORPORATION. ORDINARY 4,901,976 81,971,722 6%
BET BETMAKERS TECH GROUP ORDINARY 56,047,490 942,874,934 6%
LTR LIONTOWN RESOURCES ORDINARY 128,504,981 2,198,454,633 6%
ABB AUSSIE BROADBAND ORDINARY 13,638,546 237,682,509 6%
IEL IDP EDUCATION LTD ORDINARY 15,880,411 278,336,211 6%
ACL AU CLINICAL LABS ORDINARY 11,251,668 201,834,015 6%
SHV SELECT HARVESTS ORDINARY 6,642,527 121,058,664 5%
AWC ALUMINA LIMITED ORDINARY 158,041,414 2,901,681,417 5%
DOW DOWNER EDI LIMITED ORDINARY 36,397,444 671,573,679 5%
WEB WEBJET LIMITED ORDINARY 20,728,941 382,536,484 5%
BOE BOSS ENERGY LTD ORDINARY 19,082,707 352,578,862 5%
HVN HARVEY NORMAN ORDINARY 60,323,273 1,246,006,654 5%
CGC COSTA GROUP HOLDINGS ORDINARY 22,473,728 464,709,793 5%
DHG DOMAIN HOLDINGS AUS ORDINARY 30,317,437 631,657,153 5%
DYL DEEP YELLOW LIMITED ORDINARY 35,948,357 755,724,087 5%
LIC LIFESTYLE COMMUNIT. ORDINARY 4,926,416 104,545,131 5%
IMU IMUGENE LIMITED ORDINARY 302,491,358 6,423,039,111 5%
FFX FIREFINCH LTD ORDINARY 55,579,965 1,182,846,577 5%
EML EML PAYMENTS LTD ORDINARY 17,122,293 373,984,129 5%
CTD CORP TRAVEL LIMITED ORDINARY 6,612,273 146,325,746 5%
A2M THE A2 MILK COMPANY ORDINARY 32,572,766 721,976,214 5%
NCK NICK SCALI LIMITED ORDINARY 3,643,806 81,000,000 4%
PLS PILBARA MIN LTD ORDINARY 129,863,454 2,998,013,519 4%
29M 29METALS LIMITED ORDINARY 20,829,363 482,052,092 4%
NVX NOVONIX LIMITED ORDINARY 21,017,045 486,882,930 4%
MTS METCASH LIMITED ORDINARY 40,767,473 965,541,602 4%
BLD BORAL LIMITED. ORDINARY 46,030,773 1,103,088,419 4%
SGP STOCKLAND FPO/UNITS STAPLED 97,872,001 2,387,171,662 4%
CHN CHALICE MINING LTD ORDINARY 15,428,217 376,447,194 4%
AVZ AVZ MINERALS LTD ORDINARY 141,277,715 3,528,729,748 4%
CIP CENTURIA I REIT ORDINARY UNITS 24,992,110 634,930,635 4%
SGM SIMS LIMITED ORDINARY 7,372,810 193,174,303 4%
MYX MAYNE PHARMA LTD ORDINARY 3,237,826 85,074,288 4%
CXL CALIX LIMITED ORDINARY 6,877,521 181,037,452 4%
NIC NICKEL INDUSTRIES ORDINARY 114,689,285 3,024,257,273 4%
SYR SYRAH RESOURCES ORDINARY 25,274,492 672,453,900 4%
GUD G.U.D. HOLDINGS ORDINARY 5,195,888 140,894,696 4%
SGR THE STAR ENT GRP ORDINARY 59,637,383 1,618,680,877 4%
APX APPEN LIMITED ORDINARY 4,576,502 124,319,061 4%
MFG MAGELLAN FIN GRP LTD ORDINARY 6,639,116 181,509,883 4%
Wordpress Table Plugin


Flight Centre remains ASX’s most shorted stock despite solid start to 2023

Short sellers still think there might be turbulence ahead for Flight Centre (ASX:FLT) which remains the ASX’s most shorted stock despite rising more than 27% year to date after a successful $240 million cap raise and news of an acquisition.

FLT undertook a $180m capital raise from institutional investors to buy Scott Dunn, a leading UK-based luxury travel brand specialising in tailor-made luxury holidays, for an enterprise value of £121 million ($211 million).

The company in March also announced it had completed a share purchase plan, which it increased from $40 to $60 million after strong support from eligible shareholders.

Furthermore,  FLT’s H1 FY23 results showed profit was ahead of expectations. Highlights include:

  • $95 million underlying EBITDA – 19% above mid-point of initial H1 FY23 target ($70m-$90m) & in line with recently upgraded guidance
  • Almost $280 million turnaround from FY22 fiscal year, where there was a H1 loss
  • Profitable in corporate, leisure and in all geographic segments, apart from Asia where it was breakeven


Megaport second most shorted stock as CEO resigns suddenly in March

Cloud connectivity provider Megaport (ASX:MP1) is the second most shorted stock on the ASX. MP1 saw its share price plunge in March after the sudden resignation of Vincent English with investors questioning whether it is undergoing a wider management change.

MP1’s founder and chairman, Queensland-based serial entrepreneur Bevan Slattery, has stepped into the CEO role until new CEO Michael Reid takes up the position on May 15.

Reid joins MP1 from Cisco, where he is the chief revenue officer for ThousandEyes, one of the company’s fastest growing SaaS businesses.


The FLT & MP1 share price today:



Hotter-than-hot lithium stocks on short sellers list

Short sellers have targeted several ASX lithium plays including Core Lithium (ASX:CXO), Sayona Mining (ASX:SYA), Lake Resources (ASX:LKE) and Liontown Resources (LTR).

After a strong 2022, lithium prices have fallen more than 50% in 2023 with  sentiment damaged as prices in China retreat despite a continued expansion in EV sales.

However, as Josh Chiat reported, one of the world’s foremost experts in the key battery metal, Joe Lowry, believes this is still the lithium decade.

CXO last week announced its maiden 3,500 tonne shipment of spodumene concentrate delivered to Darwin port is ready for shipping to Yahua in China. Production of a second shipment, a 15,000-tonne parcel of concentrate, is also underway.

Described by Stockhead’s Reuben Adams as ‘hotter-than-hot’ lithium play, LTR is up more than 80% in the past month and 121% YTD. The company recently knocked back a $5 billion plus, $2.50/share cash offer from US lithium giant Albemarle.

LTR’s ~500,000tpa, $895 million Kathleen Valley lithium mine, due to open in mid-2024, is one of the few major projects headed for production in coming years.


The CXO, SYA, LKE, LTR share price today: