Twitter Inc (NYSE:TWTR) stock soared on Tuesday, continuing the upward climb after the company’s recent earnings surprise. While bulls loaded up on Twitter, short interest in it also climbed steadily. Bullish options on Twitter stock were also hot on Tuesday.
On Monday, data from financial analytics firm S3 Partners indicated that Twitter short interest has been rising steadily this year. Twitter stock soared above the $30 mark on Friday for the first time in more than two years. The Q4 earnings release boosted the stock by more than 20% for the week last week.
Ihor Dusaniwsky of S3 said that Twitter short interest started off this year at $911 million, and already year to date, about $400 million has been added to that. Total Twitter short interest reached $1.311 billion, he added, making it the eighth biggest short position in the global Internet and Software Services sector. Short-sellers lost $231.8 million in the Twitter stock last week, and today’s rally only adds to the pain. Through last week, the year-to-date losses for short-sellers on Twitter stock stood at $299.3 million.