BlackBerry Short Interest Climbs to Record Before Results
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Bets against BlackBerry reached a record high as the Canadian smartphone maker prepares to report quarterly results tomorrow and give investors a clearer picture of how its new BlackBerry 10 devices are selling.
The combined short interest in market value of BlackBerry shares in New York and Toronto reached 33 percent of the market value on June 20, according to data compiled by Markit, a financial-services firm. Investors taking short positions bet against a stock by borrowing shares they expect to fall, aiming to profit by repaying the borrowed equities at a lower price.