Originally published March 13, 2019
Overstock.com (NASDAQ:OSTK) announced last Friday that it will report Q4 2018 earnings before markets open on March 18th. The current short interest is at the highest level recorded in terms of shares (16.7m), which equates to 68.7% of the free float. It is also the 4th most expensive US equity to borrow with at least $25m on loan. The shares are trading 75% below the all-time high of $86.9 per share, however the current share price $22 reflects a 70% rally from the 2018 low on Dec 13th. Bears may have gotten the better of the bulls over the last year, however short positions have been put under pressure by the rise in borrow costs along with the rally in share price year-to-date.