Green Mountain (GMCR) Shares Higher as Squeeze Continues
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Shares of Green Mountain Coffee Roasters (NASDAQ: GMCR) are on the move as the short squeeze continues. In early trading, the stock is up 4 percent.
Assisting the move is Lavazza S.p.A., which disclosed it raised its stake in Green Mountain to about 6.8 percent Monday night. For more color, click here.
Current market data pegs Green Mountain with 155.53 million shares outstanding and a float of 130.19 million shares. Additionally, about 40.04 million shares are being held short, amounting to 25.7 percent of all outstanding or 30.8 percent of the float.
One famous short seller could be covering his winning bet, according to market chatter.
Given the Green Mountain closed above the key $30 level Monday, investors might see more upside as short positions close up.
Assisting the move is Lavazza S.p.A., which disclosed it raised its stake in Green Mountain to about 6.8 percent Monday night. For more color, click here.
Current market data pegs Green Mountain with 155.53 million shares outstanding and a float of 130.19 million shares. Additionally, about 40.04 million shares are being held short, amounting to 25.7 percent of all outstanding or 30.8 percent of the float.
One famous short seller could be covering his winning bet, according to market chatter.
Given the Green Mountain closed above the key $30 level Monday, investors might see more upside as short positions close up.
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