Regulatory Scrutiny of Short Selling Intensifies Over 20 Years of Market Maker Abuse

Published in Stocks and Investing on Tuesday, August 12th 2025 at 13:30 GMT by WOPRAI
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In the past 20 years (since 2005 with the introduction of RegSho), short selling has come under scrutiny as millions of retail investors have discovered what we have been highlighting since early 2005. Market makers abuse the “market maker’s exemption” and short excessive amounts of shares in your stock without locating, borrowing, paying the rebate or the interest rate to borrow. They are required to cover on the same trading day, and our data proves they do not.

The chart below shows “Daily Short Volume” in BioXcel Therapeutics, Inc. (BTAI), and includes both EXEMPT (market makers) and NON-EXEMPT (everyone else) short sales. We consolidate the tape of all 14 US stock exchanges and purchase the “sell short” trade identifier data directly from the exchanges on a daily basis. This complete view of the trading in your stock shows a vastly different picture than “Total Short Interest”, which only includes non-exempt short sales that have not been covered by the twice per month reporting date. Unfortunately, this misses the majority of the short selling.

This indicates that a Short Squeeze may be starting in shares of BioXcel Therapeutics, Inc. at $7.94, after crossing above the $7.87 Trigger Price. This could signal a buying opportunity, given the right market conditions.

You can find the full report at [ https://www.woprai.com/ ]

Please find the applicable data below, drawn from all major market providers.

Date	Short Volume	Total Volume	Percentage	Squeeze Trigger	$ Value
2025-08-11	21,376,681	38,660,302	55.29	5.62	120,136,947
2025-08-08	23,413,235	42,790,183	54.72	4.17	97,633,190
2025-08-07	7,728,321	14,456,907	53.46	3.47	26,817,274
2025-08-06	18,221,115	48,364,538	37.67	3.38	61,587,369
2025-08-05	19,974,959	39,508,065	50.56	2.99	59,725,127
2025-08-04	36,509,195	55,788,413	65.44	2.14	78,129,677
2025-08-01	42,820,424	108,680,168	39.4	1.67	71,510,108
2025-07-31	112,803	427,282	26.4	1.35	152,284
2025-07-30	91,101	386,320	23.58	1.47	133,918
2025-07-29	78,652	281,842	27.91	1.64	128,989
2025-07-28	124,312	349,430	35.58	1.72	213,817
2025-07-25	90,366	213,583	42.31	1.78	160,851
2025-07-24	113,059	333,978	33.85	1.76	198,984
2025-07-23	136,949	372,014	36.81	1.82	249,247
2025-07-22	121,249	384,198	31.56	1.82	220,673
2025-07-21	73,247	262,259	27.93	1.92	140,634
2025-07-18	61,039	174,654	34.95	1.92	117,195
2025-07-17	122,450	279,653	43.79	1.92	235,104
2025-07-16	92,431	286,972	32.21	1.92	177,468
2025-07-15	545,523	1,397,306	39.04	2.11	1,151,054
2025-07-14	72,172	274,194	26.32	1.99	143,622
2025-07-11	35,128	139,679	25.15	1.98	69,553
2025-07-10	32,798	300,851	10.9	2.05	67,236
2025-07-09	70,437	296,542	23.75	2.03	142,987
2025-07-08	91,942	292,658	31.42	1.95	179,287
2025-07-07	120,768	264,043	45.74	1.9	229,459
2025-07-03	23,981	77,073	31.11	1.95	46,763
2025-07-02	76,062	214,724	35.42	1.93	146,800
2025-07-01	128,615	279,968	45.94	1.92	246,941
2025-06-30	69,153	173,178	39.93	1.77	122,401
2025-06-27	96,001	442,675	21.69	1.85	177,602
2025-06-26	248,309	1,153,889	21.52	1.94	481,719
2025-06-25	498,259	1,290,000	38.62	2.03	1,011,466
2025-06-24	28,474	78,217	36.4	1.73	49,260
2025-06-23	59,277	151,366	39.16	1.64	97,214
2025-06-20	58,833	133,024	44.23	1.67	98,251
2025-06-18	39,884	96,656	41.26	1.75	69,797

Total	770,553,244	1,643,589,402	46.88	7.8	6,008,430,374

* Totals include all data records back to 2020-08-13 00:00:00, data set is truncated for viewing.