Look who’s getting short squeezed today, the last of the brick and mortar book sellers, Barnes & Noble. Turns out activist hedge fund Jana Partners now owns a 11.5% stake in the company. And they also own some puts as a hedge. On the news, Barnes & Noble (BKS) is up over 11%, shooting from $11 and change to over $12.60. All the shorts are buying back shares and rushing for the exits, so the stock could go even higher.
Update: Barnes & Noble now soaring past $13.22 a share, up over 16%. Yes, the short squeeze is in full effect.
Hat tip to CNBC’s Brian Sullivan for the news.