Who’s Betting Against Them? Rocket Lab, Oscar, and Hims Under the Microscope

1. Rocket Lab with 38.3% short interest – the highest among the three
2. Oscar Health at 32.3% of float sold short
3. Hims & Hers with 31.9% short interest

Rocket Lab – The Space Dream vs. Investor Skepticism

Rocket Lab (RKT) has positioned itself as a key player in the commercial space industry, specializing in small satellite launches and developing its Neutron rocket. Yet, with a staggering 38.3% of its float sold short, skepticism runs high. Bears argue that despite contracts with NASA and the U.S. Space Force, the company has yet to demonstrate sustainable profitability. Bulls, however, see the massive short exposure as fertile ground for a potential short squeeze if demand for space services accelerates faster than anticipated.

Oscar Health – Innovation Still Under Scrutiny

Oscar Health (OSCR), a digital-first health insurance provider, faces 32.3% short interest. While the company has grown its customer base and steadily increased revenue, it continues to operate at a loss. Short sellers doubt Oscar’s ability to compete with giants like UnitedHealth and Humana, pointing to scale and regulatory hurdles. Optimists counter that Oscar’s tech-driven approach could carve out a niche in a sector that has long been resistant to disruption.

Hims & Hers – Between Consumer Hype and Regulatory Risk

Hims & Hers (HIMS) has become a household name in direct-to-consumer telehealth, offering treatments for weight loss, sexual health, and hair loss. With 31.9% of its float shorted, the company exemplifies market polarization. On one hand, it reports rapid revenue growth; on the other, critics highlight its reliance on trendy products, regulatory risks, and insider stock sales that have fueled doubts about long-term stability.

Do These Short Levels Make Sense?

Each case has a rationale for elevated short interest: Rocket Lab’s valuation is tethered to a distant profitability horizon; Oscar Health faces structural disadvantages against industry incumbents; and Hims is exposed to regulatory oversight and consumer fickleness. Still, such extreme short levels also suggest market overreach. In environments like these, a positive earnings surprise, regulatory shift, or strong contract win could ignite a sharp short squeeze, forcing bears to cover at significant losses.

Looking Ahead – Between Speculation and Fundamentals

These three names represent a fine balance between genuine innovation and speculative trading. Rocket Lab’s future hinges on proving space commercialization can be profitable; Oscar must validate its disruptive model with actual margins; and Hims needs to demonstrate sustainable demand beyond short-lived consumer trends. For investors, the takeaway is clear: high short interest signals both risk and opportunity — and the line between the two has rarely been thinner.