Under Armour Â (UAA) real-time short interest is at $692.2 million, with 38.05 shares short, for 20.6% of the float.
Since June 1st, short sellers have gradually unwound their bearish positioning, buying back over 27 million shares, a decrease of 42%.
Prior to todayâ€™s 25% surge in price on the back of better-than-expected 3Q earnings, Under Armour was still the #2 short behind Hanesbrands (HBI) within the US Apparel & Luxury Goods sub-industry.
The shorts that remained in the trade today are looking at a one day paper loss of -$171 million, adding to the pain of being down close to -$300 million year-to-date.
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Director – Securities Finance, S3 Partners, LLC
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