Pursuits
Bearish Bets on Mattel Surge Ahead of Black Friday
- Bearish bets on Mattel near all-time high before holidays
- Investors more sanguine on Hasbro with Star Wars connection
This article is for subscribers only.
In the battle for holiday toy spending, the empire has the upper hand. At least that’s the view in the stock market.
Days ahead of Black Friday, short interest on Mattel Inc. is hovering near an all-time high, reflecting skepticism the toymaker will deliver this holiday season. After surging all year, bearish bets as a percentage of shares outstanding sit at about 21 percent for the El Segundo, California-based manufacturer, just below a record of almost 22 percent in October, according to data compiled by Bloomberg and Markit Ltd. The stock rose 1.8 percent on Wednesday to close at a three-week high of $24.81.