Stock Alert: Pandora A/S (PNDORA)

This morning the share price of Danish jeweller company, Pandora A/S, fell by over 60% following adjustments lowering full year forecasts and the CEO also resigning. Since its IPO in October 2010, it has been subject to high short selling activity. Although the share price had been decreasing gradually, this stock has continuously featured in our ‘Short Interest 52 Week High’ and “Rising and Crowded Shorts” screens (available in our weekly client data packs) since March, as short interest has continued to increase reaching a new high of 15% of total shares outstanding. This represents almost all of the lendable supply. Institutional investors have slightly increased holdings to 13.8 million shares after having held steady for the majority of 2011.

This stock has previously been highlighted as a heavily shorted stock in our following reports;
• Stock alert – Pandora A/S (May 2011) - click here
• Record gold price deters investors (April 2011) - click here