Aurora Cannabis (ACB US – ACB CN) stock price jumped by 10% as they announced that Trian Fundâ€™s Nelson Peltz is joining the firm as a strategic advisor. Peltz received 20 million options which will vest is transactional and price performance metrics are met.
Aurora short interest is $1.02 billion; 128.1 million shares shorted; 13.34% of float; stock borrow at 11.40% fee.
Aurora short selling has been declining in 2019, down 2.2 million shares, -1.7%, and has been relatively flat in March, up just 204k shares.
With Auroraâ€™s stock price up dramatically today, shorts have jumped into the overheated stock hoping for a short term price reversal. Weâ€™re seeing active short selling this morning, with nearly 2 million shares of short selling hitting the tape.
Shorts are down $111 million in mark-to-market losses today, bringing year-to-date losses to $504 million.
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