NEW YORK, June 16 Short sellers who had targeted
Whole Foods Market Inc's shares saw their year-to-date
losses more than double after the company's shares jumped on
Friday on news that Amazon.com Inc would buy the
grocer, data from financial analytics firm S3 Partners showed.
Whole Foods' shares rose as much as 28 percent, to $42.35,
after Amazon said it would buy the company in a deal valued at
about $13.7 billion, including debt.
Short sellers aim to make a profit by selling borrowed
shares on the hope of buying them back later at a lower price.
Friday's spike in Whole Foods Markets' shares cost them $251
million, according to Ihor Dusaniwsky, head of research at S3
Friday's losses brings the short sellers' year-to-date
losses to $404 million, Dusaniwsky said.
(Reporting by Saqib Iqbal Ahmed and Jennifer Ablan; Editing by