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Why Trupanion Was Down 15% in January

TheMotleyFool

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Shares of pet insurance company Trupanion (NASDAQ: TRUP) plunged 14.8% in January, according to data provided by S&P Global Market Intelligence. This drop gave back some of the stellar gains the company had to close out 2019, when shares rose 44% in November and another 10% in December.

While there wasn't any real news for Trupanion in January, there's good reason to believe that some of the gains in 2019 resulted from a mini short squeeze. Therefore, January's drop is attributable to a decrease in the temporary demand created when short sellers covered their positions.

Image source: Getty Images.

Source Fool.com

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