Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 11,730,000 shares, a growth of 33.1% from the May 31st total of 8,810,000 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 11.2 days.
A number of research analysts have weighed in on CM shares. StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th.