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Fortinet Inc. Message Board

  • notlongnotshort notlongnotshort Feb 13, 2014 12:16 PM Flag

    Short interest up 145%

    Just caught this blurb at 247wallst. Pretty surprising, considering MS and others see FTNT well-positioned to capitalize on strong demand in 2014. I'm long from $20 and adding on dips.

    "Fortinet Inc. (NASDAQ: FTNT) saw a 144.6% jump in its short interest in late January to 6.61 million shares, or 4.8% of the total float. That is by far the largest number of shares short in the past year, and the average daily volume in the period was nearly double as well. The network security company posted better-than-expected results in January. The days to cover remained about one."

    Sentiment: Strong Buy

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    • Last time it hit $22.00+ it was evident the short sellers attacked the stock and daily activities suggested shorts were adding to position and tried hard to push it below $20.00 but sellers were nowhere to be found.

      I also added more around $20.26 and will not sell. This company and the sector is just beginning to come in demand and most small ones are already bought out . This company is in a sweet spot given it has around $600 million in cash and no debt

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