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Path of Leashed Resistance

Path of Leashed Resistance

Posted January 17, 2025 at 10:00 am

Interactive Brokers

Dogness International Corp – A (NASDAQ: DOGZ) designs and manufactures products for pets. The China-based holding company has a market capitalization of $547M and a 30-day historical volatility of 171%. Over the past 12 months, the stock has traded between $2.90 and $58.50 per share, and closed Monday January 13th at $42.95, up more than 13% since last Monday’s close. We did not see a major news catalyst which we believe would cause the recent price increase.   

The Orbisa Securities Lending Dashboard offers metrics which are a result of short-selling directly within your Trader Workstation, Client Portal, and Mobile app. Orbisa data shows the Short Interest Indicator rose 24% to 7.2 from 5.8 at the start of last week while utilization at 99% remained stable. As the share price climbed throughout the week, the borrow fee increased and Shortable Shares decreased. Many speculators run scans of quick upward movements in stock prices and put on short positions, expecting a reversion to the mean. At the open on January 7th, there were 55,000 Shortable Shares available from 6 lending counterparties. By noon, that number was reduced to 1,861. We have seen more short demand but also some supply coming into the market from two small brokers. The borrow fee has fluctuated between 62% and 82% over the past month and presently sits at 71%. 

DOGZ Stock Price and Borrow Fee Chart Jan 2024 – Jan 2025 

DOGZ Stock Price and Borrow Fee Chart Jan 2024 – Jan 2025 

Source: Interactive Brokers Trader Workstation 

DOGZ Utilization in the Securities Lending Market  

DOGZ Utilization in the Securities Lending Market  

Source: Interactive Brokers Securities Lending Dashboard. Data is provided by Orbisa. 

You may learn more about utilization here

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The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. 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

Short selling is an advanced trading strategy involving potentially unlimited risks and must be done in a margin account.

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