Business
Myer’s share price is rocketing up. Here’s why. – Motley Fool Australia
It hasn’t been an easy year for Australian department stores. But today, the Myer share price gives investors something to cheer about.
The Myer Holdings Ltd(ASX: MYR) share price is up 14.89% in afternoon trading after announcing a partnership with Amazon Australia. That puts Myer’s share price up 165% from its March 20 low.
Today’s share price moves will come as unwelcome news to the host of investors betting against Myer. Myer is the second most shorted share on the ASX, with 11.3% of shares held by short-sellers.
The huge rebound since March hasn’t been enough to see Myer’s share price recover from the thrashing it took du…
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