Rémy Cointreau stock rebounds 2.5% but remains weighed down by short selling
The cognac group's share price recovered on Thursday following a sharp decline at the beginning of the week. The gains occurred in a broadly supportive Paris market, with the CAC 40 up 0.63% during the session, placing the stock among the best performers of the SBF 120.
A rebound at the 20-day moving average that brings the stock back to last week's levels
Rémy Cointreau gained 2.54% to €45.94, erasing much of the decline suffered on Tuesday, when the stock had dropped sharply. The price returns to the 20-day moving average at €45.73, with a near-zero difference of +0.46%, after holding above the 50-day moving average (€43.96) during recent volatile sessions. This positioning at the short-term average illustrates the fragility of the recovery: the stock has not yet widened its gap sufficiently for the rebound to establish itself.
The RSI at 47 remains neutral, without particular selling pressure or buying momentum, reflecting a consolidation pattern rather than a clear directional move. Over the week, the stock is still down 6.28%, but on a monthly basis the balance remains positive at +7.29%, and over three months the gain reaches 13.88%. Pernod Ricard, a natural comparable in spirits, is also up 2.35% during the session.
Stable short positions at an elevated level that maintain underlying pressure on the stock
Five funds hold a combined 5.36% of Rémy Cointreau's capital in net short positions, according to disclosed declarations. This level remains nearly stable over thirty days (+0.08 percentage points), but it remains structurally high: it signals that institutional investors are maintaining a bearish bet on the stock, whether for directional purposes or to hedge an existing exposure. Such a cumulative level, without clear acceleration but persisting above the 5% threshold, reflects lasting skepticism rather than temporary stress.
This context of institutional selling pressure must be viewed in light of sector conditions: cognac exports had declined 10.9% in value in 2024, according to FEVS data, weighing on the prospects of the Cognac-based group. The support level at €41.66 remains the reference in case of a new reversal, while resistance at €49.02 constitutes the next hurdle to overcome to consolidate the positive quarterly trend.
