RE: EVEN MORE CONVINCED JUST HAD TO BUY EVEN MORE27 Oct 2020 19:20
From HARGREAVES LANSDOWNE
What are hedge funds doing?
It’s also worth examining short interest. If hedge funds are heavily shorting Boohoo shares, it could be wise to steer clear.
Looking at shorttracker.co.uk, Boohoo only has 1.75% short interest at present. That’s not very high. Cineworld, for example, has short interest of 8.5%.
The fact that hedge funds are not betting heavily against Boohoo shares is a good sign, in my view.
Boohoo shares: a buying opportunity
Looking at this data on Boohoo shares, and considering the company’s recent strong results (revenue and EPS were up 45% and 56% respectively), I’m inclined to think that Boohoo’s share price fall is an opportunity for investors like me. All things considered, I’m not too concerned about the auditor stepping down.
I think Hargreaves Lansdown investors’ move to buy Boohoo shares, after the recent share price fall, is a smart move.