<p>针对 heavily shorted 股票的交易者正在寻找两个方向：押注于公司的衰退或寻找短期挤压。</p>
<p>以下是这些股票为何吸引如此多关注的分析，以及当前市场环境的概述。</p>
<ul>
<li><em>LCID 股票被大量做空。</em> 查看此处的图表和价格走势。</li>
</ul>
<h2>为什么股票会被大量做空？</h2>
<p>当一只股票被高估时，投资者和交易者通常会保持较高的空头头寸。</p>
<p>他们押注于公司面临重大风险——例如糟糕的收益、失败的商业模式或行业逆风——这些风险最终会导致股价下跌。</p>
<p><strong>交易的两个方面</strong></p>
<ul>
<li><strong>空头观点：</strong> 做空者依赖细致的研究来识别他们认为是定时炸弹的公司。</li>
<li><strong>多头观点：</strong> 另一方面，散户交易者通常将高空头头寸视为一个蓄势待发的弹簧。如果股价开始上涨，可能会触发短期挤压。</li>
</ul>
<h2>短期挤压的机制</h2>
<p>短期挤压是一种波动的反馈循环，可能在非常短的时间内导致爆炸性的收益。</p>
<p>当一只股票的价格意外上涨时，做空者被迫疯狂回购股票以平仓。</p>
<p>这种被迫的买入会造成需求的突然激增，从而进一步推高价格，使更多的做空者陷入反馈循环。</p>
<p>短期挤压的波动性可能导致收益远超典型股票波动的情况，在非常短的时间内实现。</p>
<h2>最被做空的 10 只股票</h2>
<p>根据 Benzinga Pro 的数据，截至 2 月 2 日，以下是市值超过 20 亿美元且自由流通股超过 500 万的最被做空的股票。</p>
<p>在下表中，股票按空头头寸排名——即已卖空但尚未平仓的股票总数，以可公开交易的股票百分比表示。</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>公司名称及股票代码</strong></td>
<td><strong>空头头寸 (%) [2026 年 2 月 2 日]</strong></td>
</tr>
<tr>
<td><strong>Choice Hotels International, Inc.</strong> (NYSE: CHH)</td>
<td>56.33%</td>
</tr>
<tr>
<td><strong>Lucid Group, Inc.</strong> (NASDAQ: LCID)</td>
<td>54.45%</td>
</tr>
<tr>
<td><strong>Avis Budget Group, Inc.</strong> (NASDAQ: CAR)</td>
<td>52.38%</td>
</tr>
<tr>
<td><strong>Under Armour, Inc.</strong> (NYSE: UAA)</td>
<td>41.22%</td>
</tr>
<tr>
<td><strong>Hims &amp; Hers Health, Inc.</strong> (NYSE: HIMS)</td>
<td>36.46%</td>
</tr>
<tr>
<td><strong>ImmunityBio, Inc.</strong> (NASDAQ: IBRX)</td>
<td>36.46%</td>
</tr>
<tr>
<td><strong>Kohl's Corp.</strong> (NYSE: KSS)</td>
<td>36.39%</td>
</tr>
<tr>
<td><strong>MARA Holdings, Inc.</strong> (NASDAQ: MARA)</td>
<td>36.21%</td>
</tr>
<tr>
<td><strong>TransMedics Group, Inc.</strong> (NASDAQ: TMDX)</td>
<td>36.14%</td>
</tr>
<tr>
<td><strong>Medical Properties Trust, Inc.</strong> (NYSE: MPT) (NYSE: MPW)</td>
<td>36.02%</td>
</tr>
</tbody>
</table>
<p></p>
<h2>提醒：</h2>
<ul>
<li>高度做空的股票是负面基本面与投机交易的战场。</li>
<li>短期挤压可能带来巨大的快速收益，但风险和波动性非常高。</li>
<li>监测空头头寸排行榜可以帮助识别哪些股票可能是下一个短期挤压，但时机把握仍然极具挑战性。</li>
<li>始终进行尽职调查，因为波动性通常反映出深层的潜在风险和商业不确定性。</li>
</ul>
<p><em>照片来源：Shutterstock</em></p>

安飞士

LCID

标普零售指数 ETF - SPDR

零售业 ETF - VanEck Vectors

线上零售 ETF - Amplify

科尔士百货

在线零售 ETF - ProShares

<p>本文讨论了 heavily shorted stocks，强调了包括 Lucid、Kohl's 和 Avis 在内的十个潜在的短期挤压目标。文章解释了卖空的动态，投资者对被高估的公司进行做空的过程，以及短期挤压的机制，这可能导致价格迅速上涨。列出了前十个被卖空最多的股票，按空头头寸百分比排名，强调了与这些交易相关的风险和波动性。提醒投资者在进行此类投机交易之前要进行彻底的研究</p>

<p>Traders targeting heavily shorted stocks are looking to play one of two sides: betting on a company's downfall or hunting for a short squeeze.</p>
<div class="lb-trans"><p>针对 heavily shorted 股票的交易者正在寻找两个方向：押注于公司的衰退或寻找短期挤压。</p>
</div><p>Here is a breakdown of why these stocks attract so much attention and a look at the current market landscape.</p>
<div class="lb-trans"><p>以下是这些股票为何吸引如此多关注的分析，以及当前市场环境的概述。</p>
</div><ul>
<li><em>LCID stock is heavily shorted.</em> See the chart and price action here.</li>
</ul>
<div class="lb-trans"><ul>
<li><em>LCID 股票被大量做空。</em> 查看此处的图表和价格走势。</li>
</ul>
</div><h2>Why Do Stocks Get Heavily Shorted?</h2>
<div class="lb-trans"><h2>为什么股票会被大量做空？</h2>
</div><p>Investors and traders often maintain a high level of short interest whenever a stock is overvalued.</p>
<div class="lb-trans"><p>当一只股票被高估时，投资者和交易者通常会保持较高的空头头寸。</p>
</div><p>They are betting that the company faces significant risks—such as poor earnings, a failing business model or industry headwinds—that will eventually drive the stock price down.</p>
<div class="lb-trans"><p>他们押注于公司面临重大风险——例如糟糕的收益、失败的商业模式或行业逆风——这些风险最终会导致股价下跌。</p>
</div><p><strong>The Two Sides of the Trade</strong></p>
<div class="lb-trans"><p><strong>交易的两个方面</strong></p>
</div><ul>
<li><strong>The Bear Case:</strong> Short sellers rely on meticulous research to identify companies they believe are ticking time bombs.</li>
<li><strong>The Bull Case:</strong> On the flip side, retail traders often view high short interest as a coiled spring. If the stock price starts to rise, it can trigger a short squeeze.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>空头观点：</strong> 做空者依赖细致的研究来识别他们认为是定时炸弹的公司。</li>
<li><strong>多头观点：</strong> 另一方面，散户交易者通常将高空头头寸视为一个蓄势待发的弹簧。如果股价开始上涨，可能会触发短期挤压。</li>
</ul>
</div><h2>The Mechanics of a Short Squeeze</h2>
<div class="lb-trans"><h2>短期挤压的机制</h2>
</div><p>A short squeeze is a volatile feedback loop that can lead to explosive gains in a very short window.</p>
<div class="lb-trans"><p>短期挤压是一种波动的反馈循环，可能在非常短的时间内导致爆炸性的收益。</p>
</div><p>It begins when a stock's price rises unexpectedly, forcing short sellers to frantically buy shares back to cover their positions.</p>
<div class="lb-trans"><p>当一只股票的价格意外上涨时，做空者被迫疯狂回购股票以平仓。</p>
</div><p>The forced buying creates a sudden spike in demand, which pushes the price even higher, trapping more short sellers in the feedback loop.</p>
<div class="lb-trans"><p>这种被迫的买入会造成需求的突然激增，从而进一步推高价格，使更多的做空者陷入反馈循环。</p>
</div><p>The volatility of a short squeeze can lead to returns that far exceed typical stock movements in a very short time frame.</p>
<div class="lb-trans"><p>短期挤压的波动性可能导致收益远超典型股票波动的情况，在非常短的时间内实现。</p>
</div><h2>Top 10 Most Shorted Stocks</h2>
<div class="lb-trans"><h2>最被做空的 10 只股票</h2>
</div><p>Here are the most heavily shorted stocks (with market caps above $2 billion and free floats above 5 million) as of Feb.2, according to data from Benzinga Pro.</p>
<div class="lb-trans"><p>根据 Benzinga Pro 的数据，截至 2 月 2 日，以下是市值超过 20 亿美元且自由流通股超过 500 万的最被做空的股票。</p>
</div><p>In the table below, stocks are ranked by short interest — the total number of shares sold short and not yet covered, expressed as a percentage of shares available for public trading.</p>
<div class="lb-trans"><p>在下表中，股票按空头头寸排名——即已卖空但尚未平仓的股票总数，以可公开交易的股票百分比表示。</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>COMPANY NAME &amp; TICKER</strong></td>
<td><strong>SHORT INTEREST (%) [Feb. 2, 2026]</strong></td>
</tr>
<tr>
<td><strong>Choice Hotels International, Inc.</strong> (NYSE: CHH)</td>
<td>56.33%</td>
</tr>
<tr>
<td><strong>Lucid Group, Inc.</strong> (NASDAQ: LCID)</td>
<td>54.45%</td>
</tr>
<tr>
<td><strong>Avis Budget Group, Inc.</strong> (NASDAQ: CAR)</td>
<td>52.38%</td>
</tr>
<tr>
<td><strong>Under Armour, Inc.</strong> (NYSE: UAA)</td>
<td>41.22%</td>
</tr>
<tr>
<td><strong>Hims &amp; Hers Health, Inc.</strong> (NYSE: HIMS)</td>
<td>36.46%</td>
</tr>
<tr>
<td><strong>ImmunityBio, Inc.</strong> (NASDAQ: IBRX)</td>
<td>36.46%</td>
</tr>
<tr>
<td><strong>Kohl's Corp.</strong> (NYSE: KSS)</td>
<td>36.39%</td>
</tr>
<tr>
<td><strong>MARA Holdings, Inc.</strong> (NASDAQ: MARA)</td>
<td>36.21%</td>
</tr>
<tr>
<td><strong>TransMedics Group, Inc.</strong> (NASDAQ: TMDX)</td>
<td>36.14%</td>
</tr>
<tr>
<td><strong>Medical Properties Trust, Inc.</strong> (NYSE: MPT) (NYSE: MPW)</td>
<td>36.02%</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>公司名称及股票代码</strong></td>
<td><strong>空头头寸 (%) [2026 年 2 月 2 日]</strong></td>
</tr>
<tr>
<td><strong>Choice Hotels International, Inc.</strong> (NYSE: CHH)</td>
<td>56.33%</td>
</tr>
<tr>
<td><strong>Lucid Group, Inc.</strong> (NASDAQ: LCID)</td>
<td>54.45%</td>
</tr>
<tr>
<td><strong>Avis Budget Group, Inc.</strong> (NASDAQ: CAR)</td>
<td>52.38%</td>
</tr>
<tr>
<td><strong>Under Armour, Inc.</strong> (NYSE: UAA)</td>
<td>41.22%</td>
</tr>
<tr>
<td><strong>Hims &amp; Hers Health, Inc.</strong> (NYSE: HIMS)</td>
<td>36.46%</td>
</tr>
<tr>
<td><strong>ImmunityBio, Inc.</strong> (NASDAQ: IBRX)</td>
<td>36.46%</td>
</tr>
<tr>
<td><strong>Kohl's Corp.</strong> (NYSE: KSS)</td>
<td>36.39%</td>
</tr>
<tr>
<td><strong>MARA Holdings, Inc.</strong> (NASDAQ: MARA)</td>
<td>36.21%</td>
</tr>
<tr>
<td><strong>TransMedics Group, Inc.</strong> (NASDAQ: TMDX)</td>
<td>36.14%</td>
</tr>
<tr>
<td><strong>Medical Properties Trust, Inc.</strong> (NYSE: MPT) (NYSE: MPW)</td>
<td>36.02%</td>
</tr>
</tbody>
</table>
</div><p></p>
<div class="lb-trans"><p></p>
</div><h2>Reminders:</h2>
<div class="lb-trans"><h2>提醒：</h2>
</div><ul>
<li>Highly shorted stocks are battlegrounds where negative fundamentals meet speculative trading.​</li>
<li>Short squeezes can deliver huge, fast gains, but at very high risk and volatility.​</li>
<li>Monitoring the short interest leaderboard can help identify which stocks might be the next short squeeze, but timing such trades remains extremely challenging.​</li>
<li>Always conduct due diligence, as the volatility often reflects deep underlying risks and business uncertainty.</li>
</ul>
<div class="lb-trans"><ul>
<li>高度做空的股票是负面基本面与投机交易的战场。</li>
<li>短期挤压可能带来巨大的快速收益，但风险和波动性非常高。</li>
<li>监测空头头寸排行榜可以帮助识别哪些股票可能是下一个短期挤压，但时机把握仍然极具挑战性。</li>
<li>始终进行尽职调查，因为波动性通常反映出深层的潜在风险和商业不确定性。</li>
</ul>
</div><p><em>Photo: Shutterstock</em></p>
<div class="lb-trans"><p><em>照片来源：Shutterstock</em></p>
</div>

这 10 只股票可能成为轧空目标：Lucid、科尔士百货、安飞士等