Short Interest Update on Sonic (SONC)

Sonic (SONC) : The bears are holding on to their shorts in Accenture Plc with 6 more days remaining for them to cover their positions. The bearish positions have increased from 4,955,825 on Jul 29, 2016, to 5,392,516, on August 15, 2016. Daily, 886,083 shares are traded, which shows the high interest of the traders in the stock. The net addition of short open interest is 436,691 shares, which is an increase of just 8.8%. The total short interest of 11.9% of the float indicates that there arent many bears on this stock at the current prices. The short interest information was released on Wednesday Aug 24th after the market close.

Sonic (NASDAQ:SONC): The stock opened at $29.40 on Wednesday but the bulls could not build on the opening and the stock topped out at $29.77 for the day. The stock traded down to $28.71 during the day, due to lack of any buying support eventually closed down at $28.74 with a loss of -1.84% for the day. The stock had closed at $29.28 on the previous day. The total traded volume was 866,754 shares.


In a related news,The officer (Former Officer of Subsidiary) of Sonic Corp, Miller Craig Jeffrey sold 25,394 shares at $30 on May 27, 2016. The Insider selling transaction had a total value worth of $761,820. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Sonic Corp. operates and franchises a chain of drive-in restaurants in the United States. The Company has around 3,512 Sonic Drive-Ins in 44 states of the United States. The Companys product categories include Burgers, Coneys and Hot Dogs, Chicken, Breakfast, Snacks and Sides, Drinks, Ice Cream, and Wacky Pack. The Companys products include SONIC Cheeseburger, SuperSONIC Double Cheeseburger, Chili Cheese Coney, Chicago Dog, Garlic Parmesan Boneless Wings, Buffalo Boneless Wings, BREAKFAST TOASTER, SuperSONIC Breakfast Burrito, Natural-Cut Fries, Onion Rings, Minute Maid Cranberry Juice Slush, DR PEPPER, SONIC Energy Zero Calorie, OREO & Cake Shake, Banana Split Master Blast, and Waffle Cone Sundae with Chocolate & Reeses Cups, among others. The Company offers Wacky Pack for kids. The Company also offers SONIC Wacky application, which is available on Google Play and iTunes App Store.

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