Financial Market Analysis
By Shawn R. Carpenter
Monday, June 19, 2006
NYT and Short Interest
The short interest in NYT is large. At a little over 11%, the short interest is the largest in the publishing group. Since 2004, the stock price for the New York Times has been in a significant downtrend and has not let up. As the chart above suggests, the downward move has led to over a 50% decline in the price. While fundamental numbers rule the show, I suspect that some of the short sellers would see a 50% profit as a windfall in the current market conditions and would not be surprised to see them cover. A 38.2% retacement would be $30-$32, while the 50% retracement be in the $34-35 range. ¶ 4:22:00 PM
The short interest in NYT is large. At a little over 11%, the short interest is the largest in the publishing group. Since 2004, the stock price for the New York Times has been in a significant downtrend and has not let up. As the chart above suggests, the downward move has led to over a 50% decline in the price. While fundamental numbers rule the show, I suspect that some of the short sellers would see a 50% profit as a windfall in the current market conditions and would not be surprised to see them cover. A 38.2% retacement would be $30-$32, while the 50% retracement be in the $34-35 range. ¶ 4:22:00 PM
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