Cramer's List of Overly Shorted Stocks (ETH, SHLD, RATE, PNRA, more..)
Responding to the SEC's announcement that it will now enforce naked short selling rules, RealMoney.com's Jim Cramer just put out a list of profitable company's that he believes are "way overly shorted". Cramer notes that short covering in these names could be "brutal":
- Chipotle (NYSE: CMG)
- Ethan Allen (NYSE: ETH)
- J. Crew (NYSE: JCG)
- Martha Stewart Omnimedia (NYSE: MSO)
- Vail Resorts (NYSE: MTN)
- Under Armour (NYSE: UA)
- Vulcan Materials (NYSE: VMC)
- Columbia Sportswear (Nasdaq: COLM)
- Garmin (Nasdaq: GRMN)
- lululemon (Nasdaq: LULU)
- PF Chang's (Nasdaq: PFCB)
- Panera (Nasdaq: PNRA)
- Bankrate (Nasdaq: RATE)
- Sears Holdings (Nasdaq: SHLD)
Cramer reiterates several times that these stocks are not automatically going to move higher just because naked shorting will no longer be allowed; instead, Jim points out that these stocks are hard to borrow, meaning that anyone "short them will have a hard time finding stock."
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Visa
Gary SHort on Sep 18, 2008 10:52 AMWhy is Visa going down with Financials? I thought they made money on transaction fees and the banks were the lenders?