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Short Interest In BlackBerry is Massive Going into Earnings on Thursday

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Short Interest In BlackBerry is Massive Going into Earnings on Thursday

CNBC reported Wednesday that short interest in BlackBerry (NASDAQ: BBRY) has increased more than 175 percent year over year.

The latest statistics show that short interest is more than 30 percent or 155 million shares. That’s up from 136 million one month prior.

Why the short interest? There are plenty of reasons. In a research note, Goldman Sachs placed a Neutral rating on the stock saying, “The Z10 launch at AT&T (NYSE: T) on March 22 was disappointing, with limited marketing and tepid sell-through at AT&T and Best Buy (NYSE: BBY) stores alike.”

Read Benzinga’s BlackBerry preview here.

With BlackBerry reporting earnings before the bell Thursday morning, the longs are hoping that BlackBerry surprises with a better than expected report. A 30 percent short interest could equal an epic short squeeze that means big profits for the longs.

Posted-In: BlackberryAnalyst Color Earnings News Events Analyst Ratings Tech Media Best of Benzinga

 

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