PrivateBancorp Shares Popped: What You Need to Know
What: Shares of PrivateBancorp (NYS: PVTB) rose a little more than 10% on speculation at Seeking Alpha that the stock could squeeze short sellers in the not-too-distant future.
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.
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At the time this article was published Fool contributorTim Beyersis a member of theMotley Fool Rule Breakersstock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim'sportfolio holdingsandFoolish writings, or connect with him onGoogle+or Twitter, where he goes by@milehighfool. You can also get his insightsdelivered directly to your RSS reader.Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.