Sonic June 15th Short Interest Update

The short interest in Sonic (NASDAQ:SONC) has increased from 4,450,809 on May 31,2016 to 4,852,747 on June 15,2016. The change was measured at 401,938 shares or 9%. The leftover shorts were 10.4% of the floated shares. The days to cover are 4, given the average daily volume of 1,277,315 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Sonic (NASDAQ:SONC): The stock opened at $26.91 on Friday but the bulls could not build on the opening and the stock topped out at $28.49 for the day. The stock traded down to $26.46 during the day, due to lack of any buying support eventually closed down at $27.56 with a loss of -9.19% for the day. The stock had closed at $30.35 on the previous day. The total traded volume was 5,375,181 shares.

The company shares have dropped -4.17% from its 1 Year high price. On Apr 6, 2016, the shares registered one year high at $36.34 and the one year low was seen on Sep 30, 2015. The 50-Day Moving Average price is $30.34 and the 200 Day Moving Average price is recorded at $31.11.

Sonic (NASDAQ:SONC) has tumbled 8.95% during the past week and has dropped 9.7% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 7.44%. Sonic (NASDAQ:SONC) has underperformed the index by 6.97% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

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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