Investors are betting against 500.com (WBAI), Should You?

Zacks

Many investors appear to be quite bearish on 500.com Ltd (WBAI), especially if you look at the percentage of the float that is sold short for this stock. Currently, 80.2% of the float is sold short, suggesting an extreme level of bearishness for WBAI.

However, it is worth noting that earnings estimates have actually been moving higher for the company, despite the pessimism. Thanks to these rising estimates, we have a Zacks Rank #2 (Buy) on WBAI, so we clearly don’t believe in the negativity surrounding this firm, and are instead looking for shares of WBAI to move higher in the weeks ahead.



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