Warby Parker Stock Dips on Quarterly Miss, Dismal Forecast

Year-to-date, WRBY is down more than 45%

Deputy Editor
Mar 17, 2022 at 11:05 AM
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Warby Parker Inc (NYSE:WRBY) is down 6.1% at $25.19 at last glance, after the prescription glasses retailer issued a dismal 2022 forecast. The company also reported adjusted fourth-quarter losses of 41 cents per share -- much worse than 9 cents per share analysts anticipated -- and a revenue miss. 

Publicly traded since September, WRBY recently hit a March 8, record low of $22.75. The 30-day moving average has been guiding the shares lower since November, and the equity is now down 45.7% year-to-date. The $23 region appears to be keeping losses in check, however. 

Short sellers have been piling on Warby Parker stock. Short interest rose 63.3% in the last two reporting periods, and makes up 21% of the equity's available float, or nearly 11 days' worth of pent-up buying power. 

Options traders have been quite bearish as well. In the last 10 weeks, 13.85 puts have been bought for every call at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). 

Drilling down to today's options activity, 5,428 calls and 4,559 puts have crossed the tape, or 11 times the intraday average. Most popular is the March 30 call, followed by the 25 call in the same monthly series, with new positions currently being bought to open at the latter.

 

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