Key Highlights

  • Freight Technologies is trading 13.19% lower at $1.01, the steepest decline of the five most shorted fallers.
  • Hertz has 123.27 million shares sold short, 34.92% of float, for the September 30 settlement date.
  • indie Semiconductor has the most days to cover at 11.76, followed by Hertz at 10.6.
  • Cable One has 32.43% of its float sold short while a federal restraining order holds up the Mega Broadband purchase.
  • Hertz and indie Semiconductor both report third-quarter results on November 5, 2026.

Which Heavily Shorted Stocks Are Trading Lower on October 28?

Five of the most shorted stocks are trading lower on Wednesday, October 28, 2026. They are ranked by the size of the percentage decline, the one measure shared by all five, with the steepest first. Short-interest figures use different bases and dates (shares outstanding for some, float for others), so they are reported as stated and not merged into one ranking.

Freight Technologies (NASDAQ:FRGT) is trading 13.19% lower at $1.01 and Founder Group (NASDAQ:FGL) 6.05% lower at $1.46. Cable One (NYSE:CABO) is trading 4.22% lower at $4.88, with a federal restraining order holding up its Mega Broadband purchase. Hertz (NASDAQ:HTZ) is trading 4.03% lower at $1.90 ahead of results on November 5, and indie Semiconductor (NASDAQ:INDI) is trading 3.16% lower at $1.69 with 11.76 days to cover.

1. Freight Technologies: why are shares down 13.19% after the October 19 capital clean-up?

Freight Technologies, which operates as Fr8Tech from The Woodlands, Texas, runs a cloud-based freight platform for cross-border trade between the United States and Mexico. Shares are trading 13.19% lower at $1.01, against a prior close of $1.16, and are down about 64% in October. No dated release accompanied the drop, although on October 19 the company said it retired legacy Series A4 and Series C preferred shares in exchange for rights to ordinary shares and cleared its 2023 warrants.

Short interest (latest available) was 174,695 shares, or 31.22% of shares outstanding, up from 51,686 a month earlier, with 0.03 days to cover. Trailing 12-month revenue was $13.06 million against a net loss of $7.90 million, and cash of $346,718 compared with $3.44 million of total debt. Market value is about $0.57 million (calculated).

2. Founder Group: what is behind a 6.05% decline after Nasdaq compliance was regained?

Founder Group is a Malaysian provider of engineering, procurement, construction and commissioning for solar PV facilities. Shares are trading 6.05% lower at $1.46, and the implied prior close of about $1.55 (calculated) matches the October 27 close, which followed a 13.4% fall on 118,357 shares against a 30-day average of 416,868. No company release dated October 28 accompanies the move; the October 23 update said Nasdaq had confirmed the company again meets the publicly held shares requirement.

Short interest was 10,661 shares at the October 15, 2026 settlement, down from 11,803, with 1.00 day to cover; a percentage of float is not stated. The share count shrank through a 100-for-1 share combination that took effect on September 1. Subsidiary Founder Energy is tendering for projects under Malaysia's LSS6 solar programme, which the company estimates at RM13 billion to RM15 billion.

3. Cable One: how far has the Mega Broadband court order pushed a stock with 32.43% of float sold short?

Cable One supplies broadband, video and business data services under the Sparklight brand from Phoenix. Shares are trading 4.22% lower at $4.88, an implied prior close of about $5.10 (calculated), with no new company release. A federal court issued a temporary restraining order on October 9, 2026 prohibiting the Mega Broadband purchase for now, shares dropped about 30% to $10.74 in early trading, and the stock closed at $7.23 on October 16, down 14.64% that day.

Short-interest data updated October 17, 2026 show 1.48 million shares sold short, up from 842,479 a month earlier, equal to 32.43% of a 4.55 million share float and 26.01% of shares outstanding, with 3.95 days to cover. Gross debt was $3.06 billion at June 30 against cash of $166.2 million, and second-quarter revenue fell 8.4% to $348.9 million. Market value was about $25.7 million at the October 27 quote.

4. Hertz: what does 34.92% of float sold short mean ahead of the November 5 report?

Hertz shares are trading 4.03% lower at $1.90 after a $1.94 close on Monday, October 26, and no company announcement is dated to the day. Short-interest data for the September 30, 2026 settlement date show 123,265,904 shares sold short, up 6.4% from the prior report, equal to 34.92% of float and 10.6 days to cover. Against 356.45 million shares outstanding, the position is about 34.6% (calculated).

Cash was $635 million against total debt of $21.09 billion, and market value was $691.52 million at the Monday close. On October 20 outside investors bought stakes in the affiliate Oro Mobility for about $80.89 million, and the company agreed to repurchase about $51.1 million of second-lien exchangeable notes for about $20.86 million. Third-quarter EBITDA is guided to $275 million to $325 million.

5. indie Semiconductor: is 11.76 days to cover the story behind a 3.16% decline?

indie Semiconductor, based in Aliso Viejo, California, designs automotive semiconductors, photonics and perception software for driver assistance. Shares are trading 3.16% lower at $1.69, an implied prior close of about $1.75 (calculated), and no dated release explains the move. The latest announcement, on October 21, said its superluminescent LEDs completed final space qualification and were selected for the Copernicus CHIME mission.

Short interest was 64,366,412 shares at the October 15 settlement, up 3,190,417 from September 30, about 27.8% of shares outstanding (calculated), with 11.76 days to cover. Second-quarter revenue was $64.0 million, up 24%, and third-quarter revenue is guided to $67 million to $73 million. Cash was $139.0 million against total debt of about $416.1 million at June 30.

Most Shorted Fallers Compared: How Wide Are the Move Gaps and Short Positions?

All comparisons in this section are calculated from the figures above. Freight Technologies' 13.19% decline is 10.03 percentage points steeper than indie Semiconductor's 3.16% and 7.14 points steeper than Founder Group's 6.05%, and the average decline across the five is about 6.13%. Founder Group's decline is 1.83 points larger than Cable One's.

On days to cover, indie Semiconductor's 11.76 is about 2.98 times Cable One's 3.95 and 1.16 days above Hertz's 10.6. Hertz's 123,265,904 shares sold short is about 1.92 times indie Semiconductor's 64,366,412. On float, Hertz's 34.92% sits 2.49 points above Cable One's 32.43%, although the Hertz reading is for September 30 and the Cable One reading was updated October 17.

Hertz's market value of $691.52 million at the Monday close is more than 1,200 times Freight Technologies' $0.57 million, and indie Semiconductor's roughly $392 million is about 15.3 times Cable One's $25.7 million.

What to Watch Next: November 5 Reports at Hertz and indie Semiconductor, the Cable One Court Order and the October 30 Settlement

Hertz reports third-quarter 2026 results on Thursday, November 5, with a call the same day, and indie Semiconductor reports on November 5 against its $67 million to $73 million revenue range. The next short-interest settlement date is October 30, 2026, with publication expected around November 10. Cable One's open items are the court's next steps on the restraining order and any financing terms, with no dates stated, while Freight Technologies' are its post-split share count and any update on a possible brokerage sale. Founder Group's are the LSS6 tender outcomes, and Hertz plans to pay a $200 million maturity in December in cash.