NBEV real-time short interest: 11.55 million shares short / 55.8% of float / $58.7 million at risk betting on a share decline.
New Age Beverages sells teas and water, but more notably announced recently, it’s ready to launch cannabis-based drinks.
Bearish speculators have increased their short exposure significantly over the past 90 days, specifically since the last earnings call (blue line), a recent share placement, and teasing its plans to enter into the high-flying marijuana business, piquing the interest of short sellers.
The shares have rallied over 200% since mid-September, with the next highly anticipated earnings call scheduled for 11/14.
With such a high percentage of actively traded shares sold short currently, NBEV is a candidate for a potential squeeze.
Want deeper insight into the above analysis?
Contact: Matthew.Unterman@s3partners.net
Director – Securities Finance, S3 Partners, LLC
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