Per Yahoo!Finance Statistics, BMY's short interest fell from 24.88 M shares to 20.96 M shares, or 15.8%, between 12-15-22 and 1-13-23. During the same period, its price also dropped from $74.41 to $72.51, or 2.6%.
BMY short interest was at only 18.25 M shares (at $71.39) on 12-30-22, and then it promptly rose to 20.96 M shares (at $72.51), or 14.8%, between 12-30-22 and 1-13-23. So, the early January bi-weekly trend gives a completely different picture than the longer monthly trend. Hopefully, those BMY longs realizing 2022 BMY capital gains in December have given way to new 2023 BMY shorts, vs. long sellers. JMHO.