Sivers Semiconductors: Record Short Bets Battle a 76% Rally as Board Overhaul Adds to the Drama
20.06.2026 - 07:54:13 | boerse-global.de
The market is witnessing a ferocious tug-of-war over Sivers Semiconductors. The stock has surged roughly 76 percent in a single month, closing Friday at €8.65 and notching a weekly gain of 3.28 percent. Yet even as retail optimists celebrate the rally, short sellers have piled in at a pace that borders on the extreme. Short interest has jumped to 17 percent of outstanding shares, up from just 1.6 percent at the start of March — a signal that institutional conviction runs squarely against the momentum.
The tension is palpable. On one side stand the bears, led by figures such as Richard Bråse of Protean, who called the current valuation “totally fantaisiste.” Nordnet analyst Calle Soderberg warned that many market participants are dancing “close to the exit,” pointing to a market capitalization of roughly 23.5 billion Swedish kronor against negative cash flow in the most recently reported quarter. On the other side are catalysts that have drawn a legion of believers: an index inclusion, a pipeline of potential orders valued at $799 million, and a partnership with contract manufacturer Jabil to secure production capacity.
Boardroom Reset at the Annual Meeting
Against this volatile backdrop, the company held its annual general meeting on June 15. Shareholders approved the 2025 annual accounts and followed the board’s recommendation to skip a dividend. More consequential was the election of two new members to the supervisory board: Helena Svancar and Joakim Nideborn, with Nideborn immediately appointed deputy chairman. Incumbent chairman Bami Bastani retained his seat.
The newly constituted board wasted no time asserting its authority. During the meeting itself, it withdrew three agenda items that had been slated for a vote — all related to proposed employee incentive programs. The explanation: the refreshed board wants to review the schemes thoroughly before putting them to a shareholder vote. The move suggests that the new leadership intends to stamp its own mark on long-term compensation structures before locking anything in.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Bullish Catalysts That Can’t Be Ignored
The bearish narrative is not without formidable counterweights. On June 1, Sivers was added to the OMX Stockholm Benchmark Index, followed shortly by inclusion in the MSCI Small-Cap Index. Both events compel buying from exchange-traded funds and passive managers, irrespective of price — a mechanical demand that can help absorb short-selling pressure.
Beyond index mechanics, the growth story rests on a pipeline of potential orders worth $799 million, driven largely by demand for optical components used in artificial-intelligence infrastructure. Management has pointed to 2027 as a potential inflection point, when pipeline opportunities could begin converting into actual revenue. The partnership with Jabil is designed to lock in the manufacturing capacity needed to deliver on that promise.
Technical Picture: Heated but Not Overheated
The price action reflects an extraordinary year. Sivers now trades 62 percent above its 50-day moving average of €5.34. From its 52-week low of €0.27 in March, the stock has multiplied more than thirtyfold. The current price sits roughly 15 percent below the 52-week high of €10.23 reached in early June.
Sivers Semiconductors at a turning point? This analysis reveals what investors need to know now.
The relative strength index stands at 60.5 — elevated but no longer at the extreme levels that characterised the parabolic leg of the rally. Annualised 30-day volatility, however, remains a staggering 236 percent, underscoring the nerve required to hold the position. With short interest at 17 percent, the stage is set for a potential short squeeze should buying pressure resume. The next major test comes in August, when Sivers releases its interim report for the second quarter of 2026. Until then, the tug-of-war between bears and bulls looks set to intensify.
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