There’s no easy way to identify the most hated stocks on Wall Street, but looking at the activity of short sellers is a great place to start.
Short selling is a difficult art that involves researching companies to determine which of them are overvalued or facing serious business problems. Sometimes short sellers uncover something nefarious, including accounting issues, but many times they are simply taking the other side of the trade — selling when others are buying. They can be just as wrong as the bulls, and their advice should be taken with a grain of salt.
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That said, while short sellers are not always right, ignoring their arguments can be dangerous for bullish investors. It’s always important to look critically at Wall Street and your portfolio, so understanding stocks out of favor can be just as valuable as uncovering new opportunities.
If you’re looking for the most hated stocks on Wall Street, start with this list. All seven companies are worth more than $1 billion but have more than 30% of their available shares held by short sellers expecting the bottom to fall out.
| Stock | Market capitalization | Short interest |
| Acadia Healthcare Co. Inc. (ticker: ACHC) | $2.4 billion | 42% |
| CleanSpark Inc. (CLSK) | $2.4 billion | 47% |
| Hims & Hers Health Inc. (HIMS) | $6.1 billion | 44% |
| Intellia Therapeutics Inc. (NTLA) | $1.5 billion | 43% |
| Novavax Inc. (NVAX) | $1.6 billion | 31% |
| Ondas Inc. (ONDS) | $4.4 billion | 34% |
| SoundHound AI Inc. (SOUN) | $3.4 billion | 35% |
Acadia Healthcare Co. Inc. (ACHC)
Market value: $2.4 billion Short interest: 42%
Acadia provides behavioral health care services, including inpatient psychiatric facilities as well as outpatient and residential recovery centers. Given rising struggles with mental health and addiction across America, ACHC might seem like a strong stock based on long-term trends. But recent headlines tell a different story. Institutional investor Engine Capital Management recently divested more than 2.2 million shares following a brutal 60% decline from Acadia’s 2024 highs. Continued reimbursement risk and regulatory scrutiny only add more uncertainty. When a stock loses the support of major shareholders, it can signal a broader crisis of confidence that leads to persistent share declines.
CleanSpark Inc. (CLSK)
Market value: $2.4 billion Short interest: 47%
CleanSpark operates with heavy exposure to Bitcoin, both mining the cryptocurrency and providing infrastructure for the digital assets ecosystem. Bitcoin enjoyed a powerful rally over the past year, peaking near $95,000 in January. But it has since fallen below $70,000 and appears to be weakening amid broader “risk-off” sentiment in financial markets. CleanSpark rode the rally higher, surging roughly 10 times from about $2 a share in 2023 to nearly $20 late last year. But momentum has now reversed, and the stock has taken a beating as crypto enthusiasm cools. As a result, many investors have grown increasingly skeptical of this small-cap crypto play.
Hims & Hers Health Inc. (HIMS)
Market value: $6.1 billion Short interest: 44%
There was a time when Hims & Hers ranked among the strongest momentum stocks on Wall Street. The telehealth leader built a following by making treatments such as weight-loss medications and mental health services more accessible and affordable. That momentum hit a major roadblock recently when the company was forced to abandon certain weight-loss products after backlash from U.S. regulators and a lawsuit from drugmaker Novo Nordisk A/S (NVO) over its patented Ozempic products.
That feud came to a sudden end on March 9 as Hims and Novo Nordisk came to an agreement in which the latter dropped the lawsuit and Hims gained the right to sell Wegovy and Ozempic on its platform, sending HIMS stock surging. Although shares remain at less than half the valuation they commanded last fall, the stock quickly rallied more than 60% in a matter of days on the agreement, sparked, in part, by a horde of short sellers rushing to cover their positions. It’s likely the short interest will decline in the weeks ahead.
[Read: 10 of the Best Stocks to Buy This Year.]
Intellia Therapeutics Inc. (NTLA)
Market value: $1.5 billion Short interest: 43%
Intellia is a classic high-risk, high-reward biotech that exemplifies the characteristics of Wall Street’s most hated stocks. Major news events — particularly clinical trial updates — can make or break the company. Wall Street expects roughly 300% revenue growth next year, but NTLA remains deeply unprofitable as it works toward commercialization. The real blow came last fall when the Food and Drug Administration placed a clinical hold on one of Intellia’s drugs. Shares collapsed from above $28 to under $6 in just a few months. While the pause was lifted in March, it will likely require significant positive results to rebuild Wall Street’s confidence. And in biotech, one misstep can quickly spell disaster.
Novavax Inc. (NVAX)
Market value: $1.6 billion Short interest: 31%
Biotech firm Novavax specializes in developing vaccines. Over the past few years it has become one of Wall Street’s most hated stocks, plunging more than 90% from its 2022 highs after demand for its COVID-19 vaccine evaporated and revenue collapsed. Recently, the company has attempted to stabilize its business through strategic partnerships. Those efforts may be showing some progress, highlighted by a surprise fourth-quarter profit. Still, the company remains deeply unprofitable on an annual basis and revenue continues to trend lower. That combination of a massive share price decline and deteriorating fundamentals helps explain why bears remain eager to short this health care stock.
Ondas Inc. (ONDS)
Market value: $4.4 billion Short interest: 34%
Ondas develops drone technologies with both civilian communications applications and military uses. Its Iron Drone Raider defense-grade drones are designed primarily for automated surveillance and counter-drone protection rather than offensive strikes. The company has attracted attention amid rising geopolitical tensions, but its financials remain modest. Ondas is expected to generate only about $50 million in revenue this year, giving the stock a lofty valuation relative to sales. Shares have surged roughly 1,000% over the past year as investors piled into the defense-drone theme. But the company is still unprofitable, and many traders believe the stock is priced to perfection — explaining why short sellers are betting the rally could eventually collapse.
SoundHound AI Inc. (SOUN)
Market value: $3.4 billion Short interest: 35%
At first glance, SoundHound looks like the kind of “agentic AI” stock investors love. The company focuses on artificial intelligence software for voice recognition, transcription and automated customer service. But SoundHound faces intense competition from major tech players including Microsoft and Google, which are pushing their own AI tools into enterprise markets. The company still expects more than 30% revenue growth this fiscal year. However, shares have fallen to roughly one-third of their 2025 peak as investors grew wary of its lofty valuation. Prices may now look more reasonable after the decline, but once a stock becomes one of Wall Street’s most hated names, rebuilding investor confidence can be difficult.
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The 7 Most Hated Stocks on Wall Street Today originally appeared on usnews.com
