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Business Insider
11 hours ago
- Business Insider
Short Report: Clear Secure bears cover as strong guidance lifts shares
Welcome to this week's installment of 'The Short Interest Report' – The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was flat, the Nasdaq Composite was up 0.6%, the Russell 2000 index up 0.1%, the Russell 2000 Growth ETF (IWO) was up 0.3%, and the Russell 2000 Value ETF (IWN) was up 0.2% in the five-day trading session range through August 7. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. SHORT INTEREST GAINERS Ortex-reported short interest in Lucid Group (LCID) had troughed at a two-month low of about 29% heading into the company's August 5th earnings, though with investors disappointed Lucid's wider than expected loss, bears are again boosting their exposure. Shorts as a percentage of free float accelerated from 29.5% to 31.8% and days-to-cover on the higher-end EV automaker rose from 4.3 to 5.3, with little relative trading volume increases accompanying its quarterly results. Just three weeks ago, the stock experienced an intra-day spike of nearly 50% when the company announced an autonomous robotaxi partnership with Uber and Nuro, with the aim to deploy 20,000 or more Lucid vehicles equipped with the Nuro Driver over six years. Since then however, all of those gains have been erased. This week, Lucid shares fell 13% in the five-day period covered, and the stock is now down 29.5% year-to-date. Ortex-reported short interest in Enovix (ENVX) had fallen to a multi-year low around 19% in late July, though with the stock also reversing much of its recent rally following a modest beat and in-line Q3 outlook after its July 31st earnings, bears are also turning less leary. Shorts as a percentage of free float on the name rose from 19.2% to 22.1%, though days-to-cover is down from 8.4 to 7.8 given the increase in trading volume. Enovix shares were down 18% in the five-day period covered, though even after Friday's 2% slide, the stock is down just 1% year-to-date. Ortex-reported short interest in Frontier Group (ULCC) is flying higher as the stock price has resumed its descend following a wider than expected Q2 loss and disappointing guidance for Q3. Shorts as a percentage of free float on Frontier rose from 27.6% to 31.2%, matching the highs above 31% set in mid- and late-June, while days-to-cover on the budget airline jumped from 5.4 to 6.8 despite large trading volume the day of and the day after earnings on August 5th and 6th. The turbulent stock, meanwhile, was down 24% in the five-day period through Thursday, having fully erased its June 23 to July 29 trough to peak 53% rally and closing in on this year's low. SHORT INTEREST DECLINERS Ortex-reported short interest in Clear Secure (YOU) is caving after the company reported Q2 results that saw a beat on revenue and also better than expected outlook for sales in Q3. Shorts as a percentage of free float – already down from outsized high-30% levels seen in mid-June – had settled into mid-20% levels but fell further from 24.3% to 21.7% – a three-month low – this week on post-earnings short-covering. Days to cover also retreated from 5.4 to 5.1 as volumes ticked higher. The stock was up as much as 14% intraday following Clear Secure's results and gained 8.6% overall during the five-day period covered through Thursday. Year-to-date, shares are now up 20%. Ortex-reported short interest in Birkenstock (BIRK) is down sharply heading into the company's Q3 results this coming Thursday. Coming out of its earnings in Q2 in May, the stock jumped a solid 6%. Shorts as a percentage of free float had reached 2025 highs around 25% earlier in the week but collapsed to 16% just as shares slipped to three-week lows. Low trading volume this week lifted the days-to-cover on the name however from 3.4 to 4.2. Over the five-day period covered, Birkenstock shares traded down by 3.2% and have now shed 15% year-to-date.
Business Upturn
14 hours ago
- Business Upturn
Digital Brands Enters into Securities Purchase Agreement for $11.225 Million Private Placement with Select Investors
Austin, TX, Aug. 09, 2025 (GLOBE NEWSWIRE) — Digital Brands Group, Inc. (OTCQX: DBGI) ('DBG' or the 'Company'), a publicly traded company specializing in eCommerce and Fashion, today announced that it has entered into a private investment in public equity ('PIPE') financing agreement with select investors (the 'Investors') for gross proceeds of approximately $11,225,000.00, after deducting placement agent fees and offering expenses. Pursuant to the terms of the securities purchase agreement dated August 8, 2025 (the 'Purchase Agreement'), the Company has agreed to sell, and the Investors have agreed to purchase, up to 14,031.25shares of its Series D Convertible Preferred Stock (the 'Series D Preferred Stock'), convertible into shares of the Company's common stock, par value $0.0001 (the 'Common Stock'), subject to beneficial ownership limitations set by the Investors, at a conversion price equal to 80% of the lowest closing price of the Common Stock for each of the five trading days immediately prior to such conversion. The aggregate cash purchase price for the Series D Preferred Stock was $11,225,000, having a stated value of $14,031,250. RBW Capital Partners LLC (a division of Dawson James Securities, Inc,) acted as the placement agent in connection with the PIPE financing. The securities being offered and sold by the Company in the PIPE financing have not been registered under the Securities Act of 1933, as amended (the 'Securities Act'), or state securities laws and may not be offered or sold in the United States absent registration with the U.S. Securities and Exchange Commission (the 'SEC') or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. The Company has agreed to file one or more registration statements with the SEC covering the resale of the unregistered shares issuable upon the conversion of the Series D Preferred Stock. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Digital Brands Group We offer a wide variety of apparel through numerous brands on a direct-to-consumer and wholesale basis. We have created a business model derived from our founding as a digitally native-first vertical brand. We focus on owning the customer's 'closet share' by leveraging their data and purchase history to create personalized targeted content and looks for that specific customer cohort. Digital Brands Group, Inc. Company Contact Hil Davis, CEO Email: [email protected] Caution Regarding Forward-Looking Statements Certain statements in this announcement are forward-looking statements. Investors can identify these forward-looking statements by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'is/are likely to,' 'potential,' 'continue' or other similar expressions. These statements are subject to uncertainties and risks including, but not limited to, the risk factors discussed in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our Forms 10-K, 10-Q and other reports filed with the SEC and available at Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
a day ago
- Yahoo
Crypto Currents: Trump signs executive order to allow crypto in 401(k) plans
As bitcoin, ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the 'Crypto Currents' weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. TRUMP SIGNS ORDER TO ALLOW CRYPTO IN 401K PLANS: President Donald Trump signed (CLSK) reported third quarter earnings per share of 90c on a revenue of $198.6M, which compared to a loss per share of ($1.03) last year and analyst revenue consensus of $200.34M. 'This was the most successful quarter in CleanSpark's history, and it reflects the strength of our strategy, the discipline of our execution, and the tireless commitment of our team,' said CEO Zach Bradford. 'We reached 50 EH/s of operational hashrate in June, becoming the first public company to do so exclusively with American infrastructure, while achieving record basic EPS of 90c and nearly $200M in revenue. We also grew our bitcoin treasury to over $1B in value, all without raising capital through equity offerings since November 2024. Having achieved 5.8% of global hashrate under management and over one gigawatt of power contracted, CleanSpark is proving that our vertically integrated model is built not just for growth, but for leadership. We believe the future of Bitcoin will be defined by those who build with purpose, and CleanSpark is setting the standard'. On Friday, B. Riley raised the firm's price target on CleanSpark to $17 from $16 and kept a Buy rating on the shares. The firm updated the company's model post the fiscal Q3 report. On Tuesday, Galaxy Digital (GLXY) reported Q2 EPS of 8c on a revenue of $9.06M, which compared to analyst estimates of 23c and $19.83M, respectively. The company said, 'July marked the strongest monthly financial performance for our Digital Assets operating business in the firm's history, with record results in Global Markets and steady progress in Asset Management & Infrastructure Solutions.' Following the report, BTIG raised the firm's price target on Galaxy Digital to $35 from $26.50 and kept a Buy rating on the shares. Galaxy Digital's Q2 operating income was significantly higher than Q1 as BTC rallied 40% since the end of Q1, the analyst said. Galaxy's current BTC balance makes them the eighth largest BTC holder among U.S. public companies and positions the company as a diversified play on the secular growth in digital assets, the firm said. Meanwhile, Rosenblatt lowered the firm's price target on Galaxy Digital to $35 from $36 and kept a Buy rating on the shares. The firm said that while the company reported weaker than expected Q2 results, its remains bullish on the shares. clear progress and encouraging trends. Although the company's trading volumes and blockchain activity fell sharply last quarter, they are off to a record start in Q3, the analyst said. Benchmark raised the firm's price target on Galaxy Digital to $40 from $38 and kept a Buy rating on the shares. The Q2 report, Galaxy Digital's first quarterly print since redomiciling in the U.S. and listing its shares on Nasdaq, 'offered a clear signal that the company is entering a new era,' the analyst said. The firm believes the downdraft post-earnings was a 'sell-the-news' reaction after shares had almost tripled since early April, but added that the report 'reflected the company's accelerated evolution as a hybrid digital asset/AI data center platform.' Canaccord also raised the firm's price target on Galaxy Digital to $34 from $33 and kept a Buy rating on the shares. The firm said Galaxy remains a solid portfolio play across two of the most exciting growth sectors out there, crypto-related financial services combined with what is evolving as one of the best data center portfolios out there, focused on AI hosting. Additionally on Thursday, DDC Enterprise (DDC) a collaboration with Galaxy. The partnership with Galaxy will provide DDC with seamless trading access and a secure, regulated platform to manage DDC's corporate bitcoin holdings. Also on Thursday, Mill City Ventures III (MCVT) announced a strategic partnership with Galaxy. Galaxy Asset Management will serve as the asset manager for the $450M SUI treasury strategy at Mill City. On Wednesday, Hut 8 (HUT) reported Q2 EPS of $1.18 on revenue of $41.3M, which compared to analyst views of a loss per share of (14c) and revenue of $49.83M. 'In Q2, we delivered strong revenue and margin performance while advancing a fundamental shift in our asset commercialization profile,' said CEO Asher Genoot. 'Strategic wins across our Power and Digital Infrastructure segments increased the share of energy capacity under management commercialized under executed agreements with terms of one year or longer to nearly 90% at quarter-end, up from less than 30% a year ago, driving a meaningful shift from merchant exposure to long-term, contracted fees. These milestones build on the restructuring of our mining business with the launch of American Bitcoin. In addition to completing an oversubscribed private placement and advancing toward a Nasdaq listing, American Bitcoin is now a dedicated anchor tenant for our Power and Digital Infrastructure segments…As we work to commercialize AI data center opportunities, we continue to apply the power-first, innovation-driven approach that has long defined our strategy and enabled us to build such partnerships. Initially energized during the quarter, Vega is a clear expression of that strategy: designed in-house and increasingly viewed by prospective partners as a prototype for next-generation AI infrastructure.' Following the report, B. Riley raised the firm's price target on Hut 8 to $26 from $25 and kept a Buy rating on the shares. The company reported a soft Q2 but has a strong development pipeline, the analyst said. Riley cited Hut's expanded power pipeline for the target increase. CORPAY, CIRCLE TO COLLABORATE ON STABLECOIN PAYMENTS: Corpay (CPAY) announced Thursday a new (CRCL), to expand stablecoin access across global payment channels. They will work together to embed USDC across Corpay's cross-border pay-in and pay-out rails allowing companies to access blockchain's 24/7 settlement and programmability. Corpay will integrate Circle Mint and related APIs, enabling clients to access and manage USDC directly through Corpay's platform. Clients will be able to fund Corpay-branded digital wallets, powered by Circle Wallets, instantly, enabling onchain settlement and seamless currency conversion alongside traditional fiat balances. 'Working with Corpay represents the next evolution of how businesses move money globally, faster, more transparently, and with the power of blockchain infrastructure,' said Kash Razzaghi, Chief Business Officer at Circle. 'By embedding USDC into Corpay's robust network, we're delivering enterprise-grade stablecoin utility across card payments and cross-border FX, all while upholding the compliance and reliability standards that global businesses demand.' COINBASE DOWNGRADE: Compass Point downgraded Coinbase (COIN) on Sunday to Sell from Neutral with a price target of $248, down from $330. The firm remains constructive on the current crypto cycle but expects a 'choppy' Q3 with weak August and September seasonality along with waning retail interest in crypto treasury stocks. In addition, increasing stablecoin competition will weigh on both Coinbase and Circle Internet's valuations in the second half of 2025, the analyst said, Compass Point believes Coinbase's Q2 and Q3 trends show weakening earnings despite the ongoing crypto bull market. The firm sees limited valuation support for Coinbase if crypto markets sell off further. Additionally on Sunday, BofA lowered the firm's price target on Coinbase to $369 from $383 and kept a Neutral rating on the shares. The firm updated models in the brokers, asset managers and exchanges group to reflect the Q2 reports. It reduced estimates for Coinbase following the earnings miss. Meanwhile on Monday, Keefe Bruyette lowered the firm's price target on Coinbase to $335 from $355 and kept a Market Perform rating on the shares. Coinbase also announced on Tuesday that Canadian users can now select PayPal (PYPL) as a payment option, making it easier to buy and sell cryptocurrencies. The company said, 'With nearly 10 million active PayPal accounts across the country, Canadians have long trusted PayPal for their financial needs – whether its shopping, running their business, sending money or managing their funds online. We're now adding another layer of convenience for Canadian crypto holders by integrating PayPal with Coinbase, allowing users to buy and sell using PayPal. This collaboration supports our global goal of onboarding one billion people to the cryptoeconomy and marks a meaningful step in our continued expansion across priority markets like Canada. The timing reflects growing momentum, with more than five million Canadians owning crypto.' MICROSTRATEGY BUYS MORE BITCOIN: In a Monday regulatory filing, Strategy (MSTR) disclosed that the company acquired 21,021 bitcoin for an aggregate purchase price of $2.46B during the period of July 28 to August 3. The company's aggregate bitcoin holdings amount to 628,791 as of August 3, the filing stated. Additionally on Monday, Clear Street raised the firm's price target on Strategy to $537 from $508 and kept a Buy rating on the shares. The firm's 'more constructive view' reflects stronger bitcoin yield expectations as well as expectations for continued 'robust' demand for Strategy securities offerings, the analyst said. OTHER CRYPTO NEWS: Riot Platforms (RIOT) initiated with a Neutral at Citi, upgraded to Buy from Hold at JonesResearch Bakkt (BKKT) to acquire 30% of MarushoHotta Semler Scientific (SMLR) reports Q2 EPS $5.04 vs. $0 last year TeraWulf (WULF) reports Q2 EPS (5c), consensus (7c) Block (XYZ) reports Q2 bitcoin revenue $2.144B CRYPTO STOCK PLAYS: Publicly traded companies in the space include Bit Digital (BTBT), Coinbase, Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Strategy, Riot Platforms and TeraWulf. PRICE ACTION: As time of writing, bitcoin rose roughly 1% this week to $116,909 in U.S. dollars, according to CoinDesk. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on BTBT: Disclaimer & DisclosureReport an Issue Trump signs order to allow 401(k) investors to access alternative assets Mixed options sentiment in Bit Digital with shares down 15.7% WhiteFiber opens at $25, IPO priced at $17 per share WhiteFiber indicated to open at $25.50, IPO priced at $17 per share 3 Best Crypto Stocks to Buy with Over 100% Upside, According to Analysts Sign in to access your portfolio
