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Where the tokens are
| Settlement | Shares short | Average daily volume | Days to cover |
|---|---|---|---|
| Sep 15, 2026 | 28.25M | 6.9M | 4.09 |
| Aug 31, 2026 | 31.79M | 7.36M | 4.32 |
| Aug 14, 2026 | 30.13M | 5.43M | 5.55 |
| Jul 31, 2026 | 34.51M | 6.21M | 5.56 |
| Jul 15, 2026 | 32.78M | 7.33M | 4.48 |
| Jun 30, 2026 | 38.17M | 8.79M | 4.34 |
| Jun 15, 2026 | 34.25M | 8.44M | 4.06 |
| May 29, 2026 | 34.42M | 16.02M | 2.15 |
| May 15, 2026 | 31.8M | 6.81M | 4.67 |
| Apr 30, 2026 | 28.38M | 6.74M | 4.21 |
| Apr 15, 2026 | 26.95M | 5.91M | 4.56 |
| Mar 31, 2026 | 25.44M | 9.38M | 2.71 |
The share of each day’s reported trading that was a short sale. This is not short interest: most of it is market makers selling short to fill buy orders and buying back within the day, so a ratio of 30–50% is ordinary for a heavily traded stock and says little about how many shares are held short overnight.
Figures describe PDD shares, not any token. As of Sep 15, 2026, from exchange short-interest reports and FINRA short-sale volume, via Massive. Short sellers borrow and sell the shares themselves; token holders are not lending theirs.