A report dated September 27, 2026, highlighted a sharp rise in short interest for Afya Limited. Short interest increased 163.2%. It reached 1.41 million shares as of September 15.
The rise followed Afya’s announcement of a binding merger agreement with Yduqs Participações S.A. The deal would create a major force in Brazilian higher education, serving approximately 1.6 million students, and would result in Afya’s delisting from Nasdaq.
The merger has drawn both positive and negative views. Analysts point to potential synergies of up to R$2.8 billion and stronger cash generation.
The increase in short interest may indicate that some investors are skeptical about the deal’s execution or the combined company’s valuation. Others may be hedging against uncertainty over the transaction structure and regulatory approvals.