KNRX short interest swung violently over seven days. It collapsed 92% mid-week, then exploded 1,158% in a single session. The borrow market has now tightened dramatically in response.
Short interest hit a trough of roughly 0.01% of float around April 24. By April 29, it had rebounded to 0.16% — still small in absolute terms. The one-day spike of 1,158% on April 29 was the driver.
That jump landed short interest back near its late-April levels. The month-on-month reading is still down 40%, meaning the bigger trend is a contraction in short positioning.
The borrow market reaction is the more striking development. Availability has tightened sharply. Utilization hit 90.68% on April 30 — up from just 14.5% four days earlier. The 52-week peak sits at 99%.
Cost to borrow climbed to 76% APR on April 29. That is up 79% in a week. It remains well below where it was in late March, when CTB exceeded 300%. The direction of travel is now firmly back upward.
Only one share is available to borrow for roughly every nine already on loan. That is a very tight lending pool.
The ORTEX short score moved to 58.4 on April 29. It sat at 44–45 for most of the prior two weeks. The jump mirrors the spike in short positions and the tighter borrow conditions.
The holder base is small and concentrated. Nine institutional holders account for the disclosed positions. Vd Capital Pty Ltd added 2.5 million shares as recently as March 18. Khar Heng Choo added 95,225 shares in late March. The top two holders — Si Wan Zhong and Khar Heng Choo — control over 25% of shares between them. A thinly traded, concentrated register amplifies the impact of any shift in short positioning.
KNRX reports next on June 12. The stock is down 14% over the past month and trades at $1.07. With availability near its tightest level of the year and cost to borrow climbing, any fresh demand for short exposure will face a constrained lending pool.
Data summary
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