<p>針對 heavily shorted 股票的交易者正在尋找兩個方向：押注於公司的衰退或尋找短期擠壓。</p>
<p>以下是這些股票為何吸引如此多關注的分析，以及當前市場環境的概述。</p>
<ul>
<li><em>LCID 股票被大量做空。</em> 查看此處的圖表和價格走勢。</li>
</ul>
<h2>為什麼股票會被大量做空？</h2>
<p>當一隻股票被高估時，投資者和交易者通常會保持較高的空頭頭寸。</p>
<p>他們押注於公司面臨重大風險——例如糟糕的收益、失敗的商業模式或行業逆風——這些風險最終會導致股價下跌。</p>
<p><strong>交易的兩個方面</strong></p>
<ul>
<li><strong>空頭觀點：</strong> 做空者依賴細緻的研究來識別他們認為是定時炸彈的公司。</li>
<li><strong>多頭觀點：</strong> 另一方面，散户交易者通常將高空頭頭寸視為一個蓄勢待發的彈簧。如果股價開始上漲，可能會觸發短期擠壓。</li>
</ul>
<h2>短期擠壓的機制</h2>
<p>短期擠壓是一種波動的反饋循環，可能在非常短的時間內導致爆炸性的收益。</p>
<p>當一隻股票的價格意外上漲時，做空者被迫瘋狂回購股票以平倉。</p>
<p>這種被迫的買入會造成需求的突然激增，從而進一步推高價格，使更多的做空者陷入反饋循環。</p>
<p>短期擠壓的波動性可能導致收益遠超典型股票波動的情況，在非常短的時間內實現。</p>
<h2>最被做空的 10 只股票</h2>
<p>根據 Benzinga Pro 的數據，截至 2 月 2 日，以下是市值超過 20 億美元且自由流通股超過 500 萬的最被做空的股票。</p>
<p>在下表中，股票按空頭頭寸排名——即已賣空但尚未平倉的股票總數，以可公開交易的股票百分比表示。</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>公司名稱及股票代碼</strong></td>
<td><strong>空頭頭寸 (%) [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>高度做空的股票是負面基本面與投機交易的戰場。</li>
<li>短期擠壓可能帶來巨大的快速收益，但風險和波動性非常高。</li>
<li>監測空頭頭寸排行榜可以幫助識別哪些股票可能是下一個短期擠壓，但時機把握仍然極具挑戰性。</li>
<li>始終進行盡職調查，因為波動性通常反映出深層的潛在風險和商業不確定性。</li>
</ul>
<p><em>照片來源：Shutterstock</em></p>

安飛士

LCID

標普零售指數 ETF - SPDR

零售業 ETF - VanEck Vectors

線上零售 ETF - Amplify

科爾士百貨

在線零售 ETF - ProShares

<p>本文討論了 heavily shorted stocks，強調了包括 Lucid、Kohl's 和 Avis 在內的十個潛在的短期擠壓目標。文章解釋了賣空的動態，投資者對被高估的公司進行做空的過程，以及短期擠壓的機制，這可能導致價格迅速上漲。列出了前十個被賣空最多的股票，按空頭頭寸百分比排名，強調了與這些交易相關的風險和波動性。提醒投資者在進行此類投機交易之前要進行徹底的研究</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>針對 heavily shorted 股票的交易者正在尋找兩個方向：押注於公司的衰退或尋找短期擠壓。</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>以下是這些股票為何吸引如此多關注的分析，以及當前市場環境的概述。</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> 查看此處的圖表和價格走勢。</li>
</ul>
</div><h2>Why Do Stocks Get Heavily Shorted?</h2>
<div class="lb-trans"><h2>為什麼股票會被大量做空？</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>當一隻股票被高估時，投資者和交易者通常會保持較高的空頭頭寸。</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>他們押注於公司面臨重大風險——例如糟糕的收益、失敗的商業模式或行業逆風——這些風險最終會導致股價下跌。</p>
</div><p><strong>The Two Sides of the Trade</strong></p>
<div class="lb-trans"><p><strong>交易的兩個方面</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>空頭觀點：</strong> 做空者依賴細緻的研究來識別他們認為是定時炸彈的公司。</li>
<li><strong>多頭觀點：</strong> 另一方面，散户交易者通常將高空頭頭寸視為一個蓄勢待發的彈簧。如果股價開始上漲，可能會觸發短期擠壓。</li>
</ul>
</div><h2>The Mechanics of a Short Squeeze</h2>
<div class="lb-trans"><h2>短期擠壓的機制</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>短期擠壓是一種波動的反饋循環，可能在非常短的時間內導致爆炸性的收益。</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>當一隻股票的價格意外上漲時，做空者被迫瘋狂回購股票以平倉。</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>這種被迫的買入會造成需求的突然激增，從而進一步推高價格，使更多的做空者陷入反饋循環。</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>短期擠壓的波動性可能導致收益遠超典型股票波動的情況，在非常短的時間內實現。</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>根據 Benzinga Pro 的數據，截至 2 月 2 日，以下是市值超過 20 億美元且自由流通股超過 500 萬的最被做空的股票。</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，股票按空頭頭寸排名——即已賣空但尚未平倉的股票總數，以可公開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>公司名稱及股票代碼</strong></td>
<td><strong>空頭頭寸 (%) [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>高度做空的股票是負面基本面與投機交易的戰場。</li>
<li>短期擠壓可能帶來巨大的快速收益，但風險和波動性非常高。</li>
<li>監測空頭頭寸排行榜可以幫助識別哪些股票可能是下一個短期擠壓，但時機把握仍然極具挑戰性。</li>
<li>始終進行盡職調查，因為波動性通常反映出深層的潛在風險和商業不確定性。</li>
</ul>
</div><p><em>Photo: Shutterstock</em></p>
<div class="lb-trans"><p><em>照片來源：Shutterstock</em></p>
</div>

這 10 只股票可能成為軋空目標：Lucid、科爾士百貨、安飛士等