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BlackBerry Short Interest Data: Borrowing Volumes Climbing Since Early March

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Speaking with Benzinga about short interest in the current market, Karl Loomes, market analyst for SunGard's Astec Analytics went through the state of affairs for BlackBerry Ltd (NASDAQ: BBRY).

The specialist told Benzinga that “the trend is perhaps the opposite of LULU, and also has been coming through in a shorter space of time, which could suggest the focus is the earnings numbers. For BBRY we have seen the number of shares being borrowed start to climb from the first week of March, specifically after its share dropped lower; volumes now up 19%.”

Related Link: Exclusive Lululemon Short Interest Data: Borrowing Volumes Falling Steadily Since Mid-February

He continued to explain the situation: “This is the pattern we often see when short sellers are bearish on a stock – they are opening up positions, effectively betting on the price falling, even as it goes lower. In this case it isn’t much of a stretch to see this in context of its upcoming earnings numbers, that short sellers may be expecting an opportunity on the downside."

Blackberry’s stock is down more than 13 percent year-to-date, and almost 12 percent since the beginning of March.

Posted-In: Astec Analytics Karl Loomes SunGardShort Ideas Exclusives Trading Ideas

 

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