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Short Seller Tweet Sends Inc. (STMP) Down

Shares of Inc. (NASDAQ:STMP) plunged more than 5% in morning trading before recovering somewhat after noted short-seller Marc Cohodes tweeted the following, ‘STMP is a scheme and I think the Insider Selling is the Frosting on the Cheesecake’. Although he was/is a chicken farmer, Cohodes has some major pull on Wall Street due to his past experience in the hedge fund business, particularly on the short side where he has exposed various suspect accounting practices. Cohodes might not be alone in his bearish sentiment either. According to the latest numbers, around 23.61% of shares are short.

Despite the skepticism, shares of have done rather well over the past four quarters, rallying over 15% before today’s action.

What Does The Smart Money Sentiment Say?

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

According to our database of 742 elite funds, smart money sentiment around has been stable. 31 elite funds had a bullish position in Inc. (NASDAQ:STMP) at the end of December, unchanged from that of the previous quarter.

The Bottom Line Inc. (NASDAQ:STMP) shares have fallen sharply intra-day due to a short seller tweet that hurt sentiment. For more reading, check out ‘11 countries with the fastest internet speeds in the World‘.

Disclosure:None Inc. (NASDAQ:STMP)

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