As of April 13, 2017, more than 10.4 million shares of Insys Therapeutics (NASDAQ: INSY) were sold short. That’s 44% of the marijuana stock’s float. Investors have clearly bet big against Insys, anticipating that the stock will sink.
However, that pessimism could be very short-sighted. Here’s why investors betting against Insys are wrong about the marijuana stock’s prospects.
Potential end in sight for federal Subsys probe
Some short-sellers might have been counting on federal and state probes into Insys’ sales and marketing practices.