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Groupon Short Interest Is Rising

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Groupon Short Interest Is Rising

Speaking to Benzinga, Karl Loomes, Market Analyst at SunGard's Astec Analytics said that his firm's data shows borrowing volumes for shares of Groupon Inc (NASDAQ: GRPN) have been climbing since the start of February.

According to Loomes, the number of Groupon shares being borrowed have risen 16 percent since February and February 9, suggesting short sellers were "skeptical" of share price gains.

"Perhaps more tellingly, so far this week we are seeing signs of short covering taking place, which given that the shares seem to have level off a little, might hint that at least some short sellers are not expecting the results to trigger a sell off," Loomes told Benzinga. "That said the numbers is still fairly small at just under six percent of borrowing volumes so far, so I would be careful about inferring too much from this as a trend across all short sellers."

Groupon is scheduled to report its fourth quarter results Thursday after market close. Analysts are expecting the company to earn $0.03 per share on revenue of $909.29 million.

 

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