The impact of drugs aiding weight loss, including Novo Nordisk’s Wegovy and Ozempic, is reaching far beyond health care. Short-sellers are now doubling down on their bets against restaurant stocks—thanks to higher interest rates and weight loss drugs that could impact consumer behavior.
Short positions on companies such as McDonald’s, Chipotle Mexican Grill, and Starbucks have seen big increases in the 30 days to Monday, Bloomberg reported, citing data from New York–based analytics firm at S3 Partners. Traders have expanded those bets by $815 million over that time period, and short interest in restaurants collectively has swelled to $12.2 billion, the company said.
