Short sellers mind The Gap, pull back on bets against Urban Outfitters
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A Baird research report on short interest across the apparel space reflected a jump in bets against The Gap (NYSE:GPS) while covering bets against Urban Outfitters (NASDAQ:URBN) and Torrid Holdings (CURV).

According to the firmâs research, Revolve Group (NYSE:RVLV) was the most popular short in the retail space for the month of November, followed by Warby Parker (WRBY) and Stitch Fix (SFIX). Short interest for the three stands at 27%, 17.4%, and 17.2%, respectively. 

Overall short interest across the firmâs coverage declined in the month, with Luluâs Fashion Outlet (LVLU), Urban Outfitters (URBN), and Torrid Holdings (CURV) seeing short interest decline 42%, 25%, and 23% respectively. Short interest for Urban Outfitters stood at 12% by the close of November, per Baird research. 

That said, bets against both The Gap (GPS) and Cricut (CRCT) marked notable increases of 8% and 7% respectively. The Gap (GPS) is now tied with Stitch Fix (SFIX) as the third most shorted stock in the firmâs coverage with 17% short interest. 

The least-shorted names included TJX Companies, Ross Stores, and Lululemon Athletica (LULU) with short interest ranging from 1 to 2.5% across that group.
Read more on why Goldman is bullish on The Gap.