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Strategies & Market Trends : Wolfgangrene's charts

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To: The Ox who wrote (3573)6/27/2017 12:04:47 PM
From: The Ox  Read Replies (1) of 3976
 
Message #3573 from The Ox at 4/6/2017 12:56:01 PM

FTR has been a favorite of the shorts.


Frontier Communications

After rising more modestly in the previous two periods, the number of shares short in Frontier Communications Corp. (NASDAQ: FTR) added another 6% or so to almost 295.94 million as of the most recent settlement date. That was 25.4% of the telecom’s float, as well as the 20th consecutive period with more than 200 million shares short. The daily average trading volume again dropped sharply, so the days to cover rose from almost eight to less than 11.

Frontier disappointed its shareholders with its most recent earnings report. Short sellers watched the share price drop almost 7% but then recover to end the two-week period about where it began. The stock closed most recently at $1.14 a share, not much higher than the 52-week low of $1.10 hit last week. The 52-week high of $5.22 was seen almost a year ago.

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