Traders betting against Wingstop got burned last year ' but now they're doubling down (WING)

Investors just can't stop betting against Wingstop.Short interest in the stock now sits at the highest since the chicken chain went public in June 2015, with roughly $215 million at risk for bearish speculators, data fromfinancial analytics firm S3 Partnersshows.The bearishness is nothing new for Wingstop. The company's shares have previously shown resilience in the face of downside bets. While short exposure nearlydoubled in 2016, the stock surged 30%, costing those speculators an average of 23% on their positions.Wingstop hasa particularly high-profile detractor: Kase Capital founder Whitney Tilson, who identified the company as his largest short position in an April 7 presentation. He called the company's valuation "absurd," noting that same store sales growth is decelerating, and stating that there's "little that is proprietary or unique about this business." He largelyechoed comments he made back in November.The company's stock is down 5.8% so far in 2017, although it's rallied 11% since falling to a 10-month low on March 7. Still, its current level is down 16% from a recordhigh reached in December.SEE ALSO:Traders are getting worried about the 'place to be' in the marketJoin the conversation about this storyNOW WATCH: The disturbing reason some people turn red when they drink alcohol
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