Tiffany Shorts Battered as Valuation Premium Surges

Tiffany & Co. short sellers are exiting bets against the world’s second-largest luxury jewelry retailer as a rebound in consumer spending pushes shares to a record high.

The New York-based company has more than tripled since March 2009 to an all-time high of $63.68. At the same time, short sellers slashed their bearish wagers to 8.3 percent of shares outstanding from a 52-week high of 15.5 percent on Sept. 20, according to data compiled by Data Explorers, a New York-based research firm.