With Lyft, Inc’s (LYFT) stock price closing below its IPO price for two days in a row, short sellers had gone into overdrive over the last three trading days and shorted over 38% of its 32.5 million share float. LYFT short interest is $856 million with 12.4 million shares shorted. At 38.19%, LYFT’s Short Interest as a % of Float is the 27th largest domestic stock among companies with greater than $50 million worth of Short Interest.
Shares of Yeti Holdings Inc. (YETI US) are up 97% YTD and 33% from the most recent earnings call (2/14). The rise in share price was bolstered by strong Q4 sales as well as comments on Dick’s Sporting Goods (DKS) earnings report citing strong demand for YETI’s products.
Banco Bradesco’s (BBD US) stock price has been cratering since mid-February, down 12%, as the Brazilian market has declined by 4.2%.
Banco Bradesco ADR (BBD US) short interest is $152 million; 13.83 million shares shorted; 0.41% of float; 0.30% stock borrow fee.
Abercrombie & Fitch Co. (ANF US) announced increased sales for the sixth straight quarter and its stock price responded with over a 22% move in its stock price.
ANF short interest is $324 million; 15.17 million shares shorted; 23.31% of float; 0.30% stock borrow fee. ANF is the 7th largest short in the Retail Apparel Sector.
Alibaba Group Holding Ltd (BABA US) continues to be the largest worldwide short and makes up over a fifth of total HK\China short exposure. Other perennial large shorts in the region are Ping An Insurance (2318 HK), Tencent Holdings (700 HK) and JD.com (JD US) while relatively newer entries to the top ten are Iqiyi Inc (IQ US) and Meituan Duianping (3690 HK.)
Turtle Beach Corp (HEAR) short selling had been on a tear for most of September and only slowed down due to lack of lendable inventory to support short locates. HEAR shares shorted in nearly topped out and just over 8.4 million shares because there is very little stock left to borrow. There is still strong demand to short the stock and whatever scraps that are left to borrow are going at over 100% fee levels. HEAR shares shorted are up 26.4%, +1.8 million shares, in February and March ahead of today’s earnings report.
Short selling in Kohl’s Corp (KSS) has been active ahead of earnings that will be released later today with 846k of new shorts hitting the tape in March. Kohl’s has been a short target for most of the year, after a relatively quiet January short selling picked up in February and March. KSS shares shorted are now up 4.34 million shares for the year, up 18.32%.
Tesla Inc (TSLA) stock is down 7% this morning on a slew of new initiatives put out by CEO Elon Musk including a $35,000 Model 3 and closing most of its 100+ dealerships and selling cars solely online. But the most important line in the conference call may have been Musk stating that “we do not expect to be profitable in Q1 ….. profitability in Q2 is likely.”
Papa John’s Intl (PZZA) short interest is $221 million; 5.28 million shares shorted; 24.90% of float; stock borrow cost is  2.40% fee.
We have been seeing increased short selling in Papa John’s in February which is a reversal of January’s short activity when short sellers trimmed their exposure by 16% and covered 733 thousand shares. We have seen shares shorted increase by 1.4 million shares in February, an increase of 35% as short sellers rebuilt their short exposure in the stock.
With Kraft Heinz Co up over 27% today, many other stocks in the Packaged Foods & Meats Sector also saw their prices drop. Over half of the stocks in sector trended down today and sort sellers in the sector were up $415 million in mark to market profits today, +3.06%.
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