Blackmores (ASX:BKL), which started the year as a ‘market darling,' trading at around $220 per share, is now trading closer to $110. Not only that, but it’s also one of the most heavily shorted stocks on the ASX200. Is BKL’s fall justified, or has the market overreacted? With strong growth assumptions baked into the price, and with earnings growth sputtering recently, the market response has been unforgiving. Adding some colour to the discussion, short sellers appear to be betting in increasing numbers that there is more pain to come. So much so that the cost to borrow BKL shares (a pre-requisite to short selling) has risen sharply.