The Goodyear Tire & Rubber Company (NASDAQ:GT) has shown a drop of 1.5% or 293,767 shares in the short positions. The bets have increased to 19,960,572 shares on June 15,2016 from 20,254,339 shares on May 31,2016. With respect to the floated shares, the shorts are 7.6%. The days to cover are calculated to be 7, using the standard per day volume of 2,734,401 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
The Goodyear Tire & Rubber Company (NASDAQ:GT): The stock opened at $26.12 on Friday but the bulls could not build on the opening and the stock topped out at $26.51 for the day. The stock traded down to $25.53 during the day, due to lack of any buying support eventually closed down at $25.57 with a loss of -6.71% for the day. The stock had closed at $27.41 on the previous day. The total traded volume was 6,281,881 shares.
The company shares have dropped -13.73% from its 1 Year high price. On Dec 2, 2015, the shares registered one year high at $35.30 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $27.43 and the 200 Day Moving Average price is recorded at $29.93.
The Goodyear Tire & Rubber Company (NASDAQ:GT) has tumbled 6.51% during the past week and has dropped 7.99% 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 4.96%. The Goodyear Tire & Rubber Company (NASDAQ:GT) has underperformed the index by 5.2% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Companys business is the development, manufacture, distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia Pacific. The North America segment is a supplier of tires to manufacturers of automobiles, motorcycles, trucks and aircraft. The EMEA segment is a supplier of tires to vehicle manufacturers across the region. The Latin America segment manufactures and sells automobile and truck tires. The Asia Pacific segment sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. The Company manufactures and sells tires under the Goodyear, Dunlop, Kelly, Debica, Sava and Fulda brands and various other Goodyear owned-house brands, and the private-label brands of certain customers.