Bears who placed a 10.1% short interest against Walgreens Boots (WBA) are rejoicing. WBA stock lost 8.96% on Tuesday for unknown reasons. Eli Lilly’s (LLY) low-priced obesity drug offered directly is the closest negative event that hurt the stock.
Eli will sell a low-dose formulation of Zepbound, a weight-loss drug, at its direct-to-consumer site, LillyDirect.
Hims & Hers (HIMS) stock fell by 7.54% yesterday.
Investors are avoiding WBA stock because the firm has over $33 billion in debt and $700 million in cash on hand. It has yet to suspend its dividend, where the dividend yield is 15.35%.
Paramount Global (PARA) sold off on Tuesday after Edgar Bronfman Jr. bowed out of the $6 billion offer to acquire the firm. Bronfman likely did not get the lending support from investors needed to complete the acquisition.
The short float on PARA stock is 9.07%.
After gaining 170% in the last month, Lumen Technologies (LUMN) fell by 14.54% yesterday. Kerrisdale Capital issued a short report against LUMN stock. Lumen is securing the bandwidth that data centers require to support AI. Readers should be reminded that Kerrisdale shorted Carvana (CVNA) around six months. Since then, CVNA stock gained 97.39%, adding over $100 to its stock price.
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