Why this matters — Three distinct ORTEX short-squeeze data points have aligned on AKAN within 24 hours. Short interest, cost to borrow, and utilisation all surged simultaneously, marking one of the sharpest stress escalations in the stock's recent trading history.
Short interest exploded overnight. SI jumped 119% in a single day to 33.2% of free float on April 23rd. Over the past week, short interest climbed 372%. The number of shares short rose from 110,420 to 242,047 in one session.
Cost to borrow spiked to triple digits. CTB hit 540% APR on April 23rd, up 608% from the prior week's level of 76%. The borrowing rate tripled in two days as demand for shares to short outstripped supply.
Utilisation neared full capacity. Utilisation surged to 96.3% on April 23rd, approaching the 52-week high of 100% last seen on April 15th. Nearly all available shares in the lending pool are now on loan. A month ago, utilisation sat at just 7%.
Hudson River Trading initiated a 2,115-share position in Q4 2025, now the largest institutional holder. Insider HRT Financial LP executed mixed trades in January—buying 29,036 shares and selling 7,868—for a net buy of $50,800 over 90 days. The data is 98 days old. AKAN's ORTEX short score hit 81 on April 23rd, ranking 7th percentile for short-squeeze risk.
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