Skullcandy (SKUL) has become the poster child for abusive shorting. by Seeking Alpha
Skullcandy (SKUL) has become the poster child for abusive shorting. Having beaten the consensus Wall Street estimate for earnings for 5 consecutive quarters, you would think that the professional shorts would have learned their lessons by now. With 81.94% of the float short, Skullcandy is now into prime retailing season. With their new packaging strategy completed I am expecting Skullcandy in the next two quarters to really ramp up sales. It looks like the professional shorts have missed any opportunity to possibly cover this colossal mistake. The battle lines have now been drawn and it looks like it's the institutions versus the shorts. The institutions currently own 20.5 million of the 27 million shares and the current short position is 11.6 million shares. With Skullcandy expected to make $.87 in the next two quarters, this should be an epic battle.