5 Foreign Stocks That Could Pop This Summer
Lan Airlines
Chilean air carrier Lan Airlines (LFL) is one heavily shorted foreign name that's actually having a strong year in 2012. Shares of the firm have rallied close to 12% since the first trading day of January, price action that's got to be painful for short sellers right now. With a short interest ratio of 11.1, it would take shorts more than two weeks to exit their positions at current volume levels.
The airline won't be called Lan for long. Following a merger with Brazil's TAM (TAM) that closed on Friday, the combined firm will be called LATAM and will begin trading under that name on the NYSE tomorrow.
>>5 Bargain Stocks With Tons of Cash Lan is the flag carrier for Chile, positioning that gives the firm advantages over others in its homebase. Size gives the combined LATAM group other advantages -- the merger makes LATAM the biggest carrier in Latin America and should provide the combined firms with as much as $700 million in cost savings annually. Lan has been a perennial short target for U.S. investors in the past year or two. Lower costs and a bigger footprint should help to shake out the week hands once the combined firm starts trading.Select the service that is right for you!
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