Mota Shares Surge Despite Growing Short Seller Pressure

Betting against the shares of Portuguese construction firm Mota-Engil SGPS SA is becoming an increasingly crowded trade, even as the stock has climbed since activist short seller Muddy Waters first disclosed its position.

The number of Mota-Engil shares out on loan, an indication of short interest, has climbed to 26% of those freely available for trading, according to data compiled by S&P Global Market Intelligence. That’s up from 2.2% in mid-November and the highest level on record, surpassing a previous peak in 2019.