5 Most Shorted Stocks to Watch in July

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1. Redbox Entertainment Inc. (NASDAQ:RDBX)

Float Shorted: 93.47%

Number of Hedge Fund Holders: 5

Redbox Entertainment Inc. (NASDAQ:RDBX) is an Oakbrook Terrace, Illinois-based company that provides access to a large database of content through digital and physical media.

Redbox Entertainment Inc. (NASDAQ:RDBX) is in the middle of an acquisition by Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:CSSE) for an all-stock deal of $375 million. This includes the assumption of $325 million debt on the books of Redbox Entertainment Inc. (NASDAQ:RDBX).

Redbox Entertainment Inc. (NASDAQ:RDBX) is currently the most shorted stock as short sellers anticipate the deal to fail and the company to collapse under the burden of losses and high debt on its books. Redbox went public in October 2021 through a merger with a special purpose acquisition company (SPAC).

As of Q1 2022, only 5 hedge funds held a stake in Redbox Entertainment Inc. (NASDAQ:RDBX).

You can also take a peek at the Top 10 Stock Picks of Cannell Capital and 10 Commodity Stocks to Buy On The Dip.

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