Short Interest Monitor: CPB, IMAX, DOCS

The latest edition of the Short Interest Monitor features an eclectic mix of companies spanning sectors that aren't always associated with elevated short interest.

Short sellers targeted The Campbell's Company (CPB) late last month after the packaged foods maker was hit with a class-action lawsuit from consumers seeking reimbursement for inflated food costs. The lawsuit claims that Campbell's raised retail prices on canned goods due to tariffs but later received tariff refunds without passing recovered costs back to consumers. Campbell's also reported a 4% year-over-year sales decline in its second-quarter earnings report in June, and management guided for a 1% to 2% organic net sales decline for fiscal year 2026. CPB shares have dropped roughly 20% year to date amid concerns about its sales growth, margins, and shifting consumer habits.

IMAX (IMAX) also saw a sharp rise in its short interest in late July, despite reporting rising earnings per share and revenues in its second-quarter earnings report on July 23. The company has benefited from the IMAX release of The Odyssey in recent months, but its shares have surged more than 40% year to date, potentially leading to valuation concerns. Management also maintained its full-year guidance in the company's second-quarter earnings report, projecting a record $1.4 billion in global box office sales. Investors may have been hoping for a guidance boost amid the company's recent sales momentum.

Doximity (DOCS) was another short-seller favorite last month amid concerns about slowing revenue growth and rising expenses tied to AI investments. However, the medical platform company saw its stock surge in a possible short squeeze after reporting strong earnings back on August 6. DOCS' revenue growth rebounded as it topped Wall Street's earnings and revenue forecasts while raising its full-year guidance. CEO Jeffrey Tangney also highlighted the benefits of the company's AI search product and argued costs would come down over time during the company's earnings call.

The table below shows the complete Short Interest Monitor, which features 10 equities with elevated and rising short interest. Each stock has a market cap of at least $2 billion and short interest that represents at least 10% of its outstanding shares.