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Short sellers ramping up their bets against Pandora (PNDORA:CPH)

Danish jeweler Pandora rose to popularity with its charm bracelets, and its stock price increased accordingly from 260 at its IPO in October 2010 to 360 in January of this year.  From that point, however, the stock price is back down to its IPO level.
 
Compared to other jewelers, it remains to be seen whether Pandora has built a sustainable brand or if it has just taken advantage of a one-off fad.

Out of 55 million shares in free float, 2.7 million are currently borrowed and shorted according to Short Side.  Short sellers are not paying a high cost-to-borrow as is typical for the first funds to get into a trade.

From its IPO until December 2010, there were only a few hundred thousand shares borrowed at any given time.