Elong Power Holding Limited enters the week after May 11 in near-freefall, having shed 85% of its value in five trading days and closing Friday at $0.95 — down from above $6 just a week ago.
The collapse is the dominant story. The stock fell 51% on Friday alone, the same day the company priced a registered offering of 4.6 million units at $1.30 per unit — a dilutive raise that arrived with the stock already in sharp decline. The offering price itself was quickly overwhelmed. Shares had peaked above $39 in mid-March before a long grind lower, meaning Friday's close represents a draw-down of roughly 97% from that high.
Short positioning tells a story of rapid, opportunistic rebuilding — and a borrow market that is now almost fully locked. Short interest hit 16.4% of the free float as of May 14, up from effectively zero on May 8, when the float on loan was completely unwound. That is one of the fastest rebuilds in the data — from nothing to a double-digit short position in five sessions. Availability has tightened in lockstep: it dropped from 655% on May 8 to just 21.6% by May 14, meaning roughly four shares are currently borrowed for every one still available to lend. Cost to borrow is running at 395% annualised — a record high in the dataset — having climbed from 177% in early April. The borrow market is extremely tight. This is not a setup that makes fresh short-selling straightforward; the cost and scarcity of available stock make new positions expensive to initiate or hold.
The ORTEX short score has followed the borrowing dynamics closely. It reached 80.1 on May 14, up from 53.2 on May 7 and 62.4 on May 11. That rapid acceleration over four sessions reflects the convergence of rising short interest, tightening availability, and elevated borrowing costs — all pointing in the same direction at the same time.
Institutional ownership is thin and concentrated, which amplifies every move. The nine reported holders collectively control a small fraction of shares, with Ground Swell Capital the largest at under 1% of the float. Jane Street — the only recognisable market-making name — held just 151 shares as of December 2025. That ownership structure leaves very little institutional ballast when sentiment turns.
Earnings history offers useful context. The last four reported events all produced negative 1-day reactions, ranging from –1.9% to –22%. The one exception was a 5-day move of +139% following the April 20 print, but that bounce unwound quickly. The next event is scheduled for May 29. Past prints have been volatile in both directions over the five-day window, which makes the borrow cost and availability picture into the next reporting date worth watching closely.
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