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Traders refuse to let Equifax off the hook (EFX)


Added 09-28-17 06:14:01am EST - “Traders are continuing to load up on bets against Equifax even as the company's stock recovers from recent lows.” - Businessinsider.com

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Posted By TheNewsCommenter: From Businessinsider.com: “Traders refuse to let Equifax off the hook”. Below is an excerpt from the article.

Traders are refusing to let Equifax off the hook as they continue to add to short positions. Reuters / Brendan McDermid

Short interest — a measure of wagers that share prices will drop — has continued to climb since initial reports of the company's massive data breach that cost its CEO his job.

It now sits at $281 million, according to financial analytics firm S3 Partners. Further, traders are holding 2.6 million shares short, an increase of 570,000 since the hack was first announced.

All of that has occurred even as shares have mounted a 14% recovery, which followed a 35% plunge immediately after the hack was first announced.

That investors have been willing to stick with their short wagers even as Equifax's stock has rallied slightly shows the level of conviction they have that the company's fortunes will sour further.

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