Amazon short interest is at $8.57 billion, with 5.21 million shares short, for 1.28% of the available float. 3rd Quarter earnings per share beat estimates but revenues missed. The stock was up 7% during the day but is now down 5% after hours. Shorts were down $615 million in mark-to-market losses at the market close but are now recouping $459 million of those losses in the aftermarket. Shorts were building their positions ahead of Amazon.com’s earnings release with 360 thousand new shares shorted over the last week. We may see continued short selling in the morning if shorts expect this aftermarket price weakness to continue as analysts dive deeper into Amazon.com’s results.
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Managing Director Predictive Analytics, S3 Partners, LLC
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