Shares of educational materials company Houghton Mifflin Harcourt (NASDAQ: HMHC) are on the rise Friday. Instead, the day's upward move appears to have been a continuation of Thursday's rise, which was cued by the company's announcement of some significant structural changes to its business. While it's impossible to say for sure what was causing Houghton Mifflin Harcourt stock to climb further Friday (since there was no new news), looking at the company's short interest suggests a reason.
Shares of education company Houghton Mifflin Harcourt (NASDAQ: HMHC) soared on Thursday after it announced a restructuring of its business. Despite the upfront costs, investors like the sound of the changes HMH will be making to its business structure. Houghton Mifflin Harcourt's second-quarter results clearly demonstrated that its future is in digital products.
Investors need to pay close attention to Houghton Mifflin Harcourt (HMHC) stock based on the movements in the options market lately.