Bausch Health Companies Inc (BHC)

[maseraticoupe]

Short interest in Valeant stock sees a dip.

Between the two reporting dates of short interest numbers( May 15 & May 31), Valeant stock has seen a significant correction losing nearly 15%. During the same period, the short interest in Valeant Pharmaceuticals declined by 6.8%. The number of shorted shares on the latest reporting date decreased to 50.47 million from 54.17 million shares at the end of the preceding fortnight. As a percentage of float, short interest dropped to 14.9%, from 16%. The days to cover came in at three days.

Shares of the pharma company continue to struggle due to its past issues. The heavy debt burden has been an issue for the company for some time now but things are beginning to change. The rumor of sale of assets is the new factor which is driving the stock of late.