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Applied Digital Corporation (NASDAQ: APLD) provides digital infrastructure solutions for high-performance computing and AI. Much like many other computing and AI stocks, the Q1 tech sell-off and fears of economic slowdown have negatively impacted APLD, with the stock shedding nearly 38% of its value year-to-date.
APLD has remained popular amongst short sellers over the past month, with Utilization ranging between 78% and 90% since March 6th. The Short Interest Indicator was relatively stable during the same period and ranged from 28% to 33%.
Note that other stocks which are popular with short sellers at IBKR are visible in our weekly Hottest Shorts list.
APLD Utilization and Short Interest Indicator – March 6th – April 4th
Source: Interactive Brokers Securities Lending Dashboard. Data is provided by Orbisa.
In accordance with the persistent short demand, we have seen a 17% increase in On-Loan Quantity from March 6th. Despite the growing quantity of shares on loan, the On-Loan Value has decreased 11%. The value reduction is due to the declining share price, which has fallen 30% in the past month.
APLD On-Loan Quantity and On-Loan Value – March 6th – April 4th
Source: Interactive Brokers Securities Lending Dashboard. Data is provided by Orbisa.
The Securities Lending Dashboard can be used to analyze short sale metrics for APLD and other stocks. Current IBKR clients can receive a free trial of the dashboard by clicking here.
In the chart below from the Short Selling tab of the Trader Workstation Fundamentals Explorer, we can see the overlay of the share price and borrow Fee Rate, as well as the Shortable Shares from April 1st until the 7th.
APLD Short History April 1st, 2025 – April 7th, 2025
Source: Interactive Brokers Trader Workstation – Fundamentals Explorer – Short Selling Tab
Shortable Shares, as represented by the orange line, dipped briefly last week but have since returned to April 1st levels. We are currently being shown inventory from 8 securities lending counterparties. The Fee Rate (red line) fluctuated between 0.80% and 2.40% as the price (blue line) gradually dropped over the week. Short sellers at IBKR are currently paying a borrow fee of 1.85%. When determining their total Short Sale Cost, short sellers at Interactive Brokers should also consider the interest they can receive on Short Sale Proceeds.
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This material is from IBKR Securities Lending Desk, an affiliate of Interactive Brokers LLC, and is being posted with its permission. The views expressed in this material are solely those of the author and/or IBKR Securities Lending Desk and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
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Disclosure: Short Selling
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