Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of PrivateBancorp
So what: Volume was up only slightly today, so if a short squeeze is in the offing, it hasn't happened yet. But a rush of redemptions is possible. Short interest rose almost 16% in the past two weeks alone -- holdings that would be flipped fast at the first whiff of a sustained rally.
Now what: I'll understand if that's cold comfort for longtime investors. Shares of PrivateBancorp are down more than 40% year to date. It'll take a lot more than a short squeeze to close that gap. Do you agree? Disagree? Please weigh in using the comments box below.
Interested in more info on PrivateBancorp? Add it to your watchlist.