ManpowerGroup Inc. (NYSE:MAN) shares surged Thursday after the workforce solutions company reported second-quarter results that topped Wall Street estimates and issued third-quarter earnings guidance above expectations.
The rally was likely magnified by elevated short interest, with nearly 20% of the public float sold short, signaling substantial bearish positioning that may have fueled a squeeze.
The company has a short interest of 6.75 million shares, representing 19.9% of its public float. That elevated short interest suggests a significant number of investors are betting the stock will decline while also increasing the potential for a short-covering rally if sentiment improves.
Second-Quarter Results Beat Estimates
Adjusted earnings were 99 cents per share, topping analysts’ consensus estimate of 95 cents. Revenue rose 8% year over year to $4.86 billion, or 6% in constant currency, exceeding estimates of $4.72 billion. On a GAAP basis, earnings were $1.13 per diluted share, compared with a loss of $1.44 per share a year earlier.
