GW Pharmaceuticals Shorts Take Gamble Ahead of Conference
Short interest for GW Pharmaceuticals jumped 228% during the last two weeks of April and ahead of its presentation at the Bank of America/Merrill Lynch Health Care Conference.
GW Pharmaceuticals saw its short interest increase by 228% in just two weeks at the end of April. The stock then proceeded to drop 4% at the beginning of May even though the company reported its earnings on May 7. GW Pharmaceuticals will also be presenting at the Bank of America/Merrill Lynch Health Care Conference in Las Vegas on May 13th. If the presentation goes well, these shorts could be forced to cover their positions. GW Pharmaceuticals was asked several questions about the FDA and its approval during its earnings conference call. Investors are anxious for U.S. approval.
