Starbucks short interest is $2.45 billion; 36.59 million shares short; 3.04% of float; stock borrow is General Collateral (30 bp fee). SBUX is the most shorted stock in the Restaurant Sector, followed by Chipotle Mexican Grill (CMG) and McDonalds (MCD). With former Starbucks CEO, Howard Schultz, announcing a potential presidential run in 2020 as an independent and possibly splitting the Democratic anti-Trump voting block there have been calls for a retaliatory boycott of Starbucks.
Today we are seeing increased short selling in Starbucks stock, with over 500k of new short sales hitting the tape. Starbucks stock is down less than 1% since Sundayās 60 Minutes interview but if the threat of a large scale boycott does come to fruition we may see more price weakness, nearing the over 6% decline seen after the last Starbucks boycottĀ in April 2018.
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Managing Director Predictive Analytics, S3 Partners, LLC
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