Banc Of California – Activist Investing And Activist Short Selling Collide

It’s not every day that the worlds of activist investing and activist short selling collide, although there have been enough examples over the last few years that it shouldn’t be hard for most observers to name one. The latest is at Banc of California – scene of an incredible set of twists and turns, the latest of which sent the stock up 23% yesterday. For short sellers, who had 27% of the company’s float (itself 92% of the outstanding shares) on loan as of January 13, according to the Wall Street Journal, that should be some squeeze. Banc Of California…