MicroStrategy faces the highest institutional net short position, with the strongest bearish sentiment

Media reports that MicroStrategy (MSTR) faces a net short position of approximately $6.941 billion, accounting for 23.14% of its market value, indicating strong bearish sentiment or widespread hedging needs. This high ratio could lead to increased market volatility and even trigger a short squeeze. In contrast, Coinbase (COIN), with a market value of about $62 billion, has a net short position of $1.129 billion, representing 1.77% of its market value, showing relatively mild bearish sentiment. Marathon Digital Holdings (MARA), with a market capitalization of about $6 billion, has a net short position of $101 million, accounting for 1.68% of its market value. These net short positions may be part of strategic hedging strategies such as Kerrisdale Capital's simultaneous shorts on MSTR and longs on Bitcoin. Fintel's data highlights the highest net short position faced by MicroStrategy among the three companies.