The stocks that investors love to hate are getting shellacked

This is what the opposite of a short squeeze looks like.

A basket of 50 heavily shorted stocks tracked by Goldman Sachs with market caps of at least $1 billion apiece is down 3.2% on the day as of 1:30 p.m. ET, undoing what had been a very strong start to the year.

There’s a fair amount of overlap between this list and some of the best-performing US stocks over the past 50 days that are seeing some of those gains evaporate today, like Archer Aviation and SoundHound AI.

Other once-upon-a-time meme stock Plug Power and crypto proxy MARA Holdings, both heavily shorted names, are also getting rinsed.

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