Restaurants Draw Short Bets on Higher Rates, Ozempic Threat
- Wagers against McDonald’s, Chipotle increased in past month
- Restaurant gauge ended last week at lowest since November
Total short interest in the restaurant industry is $12.2 billion.
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Short sellers have boosted their bets against restaurant stocks in the past month, with concerns swirling that higher interest rates will pinch consumers’ wallets and weight-loss drugs will impact their behavior.
Traders added $815 million to short positions in restaurant stocks over the past 30 days, according to data from S3 Partners LLC. McDonald’s Corp., Chipotle Mexican Grill Inc., Darden Restaurants Inc. and Starbucks Corp. saw the largest increases to short positions during that period. Total short interest in the restaurant industry is $12.2 billion, S3 said.