The shorting on DDR is certainly a mystery, although I find shorting is often a mystery. Just about all of those 5m shorts were progressively accumulated from mid Feb onwards, The average price would have to be around $10.50 or so, meaning the shorters have "invested" well over $50m. At the current price of $13.50 or so, that's a nasty loss of towards 30% or $15m.
The other part of the mystery is the source of the 5m shares which have been "loaned" to the shorters. The last annual report highlights over 66% held by the top 2 holders who you imagine wouldn't be lending shares to shorters, & the next three institutions holding 12m+ between them. You would have to think two or three of them who have gone down the shorting path. Whoever has decided to short DDR will be regretting as at now!
DDR Price at posting:
$13.49 Sentiment: Hold Disclosure: Held
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