Banco Bradescoās (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.
We are seeing increased short selling in the 4th largest Brazilian bank, by total assets, which may be more of a short term Brazilian momentum play as the market continues its slide from its historical highs it hit in late January. BBDās projected revenues and EPS, according to Bloomberg, are expected to outperform last yearās results so this momentum short play may turnaround quickly as we get nearer to its late April reporting date.
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Managing Director Predictive Analytics, S3 Partners, LLC
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