Bed Bath & Beyond (BBBY US) short interest is currently 48.26 million shares, 36.7% of float, $936.7 million notional exposure.
Over the first 3 months of 2019, short interest was up 17.5 million shares, or 55% on a shares shorted basis; and up $475.5 million, or 133% on a notional exposure basis.
Bearish speculators that increased short positioning leading into the latest earnings call are being justified today, with the stock price trading down 9% in early morning trading after posting mixed results.
This drop equates to an intraday paper gain of $85 million as of this writing, helping offset the $330 million in mark-to-market losses shorts have endured year-to-date.
BBBY is the #2 most shorted equity within the US Home furnishing Retail sub-industry, only trailing Williams-Sonoma (#1 at $963.9 million).
If recent trends continue, we could be looking at over 50 million shares shorted (an all-time high) and $1 billion in notional exposure.
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Director – Securities Finance, S3 Partners, LLC
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