Banco Bradescoâ€™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.
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. BBDâ€™s projected revenues and EPS, according to Bloomberg, are expected to outperform last yearâ€™s 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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