Linkage Global Inc enters the week as one of the most aggressively re-shorted micro-caps on Nasdaq — short interest has erupted from near zero to roughly 8% of free float in under two weeks, while the stock has lost nearly 60% of its value over the past month.
Short positioning here is the story, and the numbers are extraordinary. Short interest climbed more than 1,270% week-on-week, rising from roughly 0.26% to 8% of free float between May 7 and May 12. A month ago, the position was negligible — under 0.2% of float. That kind of acceleration in a stock trading around $0.56 signals a deliberate, concentrated bear thesis, not passive drift. The ORTEX short score jumped to 66.6 on May 12, up from 31.6 just five days earlier, reflecting how rapidly the sentiment shift has materialized. The days-to-cover rank sits at the 92nd percentile, meaning the position is large relative to typical daily volume.
The borrow market confirms the squeeze. Availability dropped from well above 1,000% in late April — when there were more than ten available shares for every share already borrowed — to just 60.6% on May 12. That's tight: roughly one share still available for every two currently out on loan. Cost to borrow at 10.1% is modest by squeeze standards, but the direction matters: it has risen 9% over the past week and has more than halved from the 23–27% range seen in late March, suggesting the earlier stress episode cleared and fresh shorts entered into a briefly loose lending pool that is now tightening again fast.
The ownership structure adds an unusual layer of context. The top ten holders are all named individuals — mostly Chinese nationals — and together they account for more than 92% of shares. Jian Chen Guo holds 14.8%, Zhihua Wu 12.3%, Zheng Zhang 10.3%. None of them have reported any change in position in recent filings. With the free float this thin, even a modest wave of new short positions creates outsized moves in the SI-to-float ratio, which is exactly what the data shows. The market cap is just over $7 million. This is not an institutional battleground — it is a micro-cap with a concentrated insider base and a small but rapidly growing short interest stacking against it.
Technically, the RSI14 has fallen to 27.8, deep in oversold territory. The price is down 69% year-to-date. Two prior earnings events showed muted 1-day reactions (+0.7% and -1.9%), but those were in a different price regime entirely. No next earnings date is currently scheduled, which removes a near-term catalyst anchor. The sector score is at the 50th percentile with no analyst coverage on record, leaving price discovery entirely to market participants.
The key variable to watch is whether borrow availability continues to tighten toward the sub-50% threshold that has historically preceded more acute short-side pressure. With the short score at its highest reading of the past six weeks and availability compressing sharply, the lending dynamic is worth monitoring closely.
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