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Consumer Discretionary

S3 Analytics: LYFT Down 4% in Pre-market Trading, on Long not Short Selling

We’re seeing slivers of LYFT stock borrowing this morning going in the neighborhood of 90% fee.

Brokers will be pulling down every scrap of LYFT stock borrow shares today to start covering the locates they issued over the last two trading days. We expect rates to stay exorbitantly high until the bulk of lendable inventory hits the street – that should take a day or so for settlements to finalize and lenders to put out stock.

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S3 Analytics: LYFT down 10% on Long not Short Selling

Lyft Inc (LYFT) has declined by over 10% and below its $72 IPO price in mid-day trading due primarily to long shareholder selling and not short selling.

With IPO shares not settled yet and therefore not physically in stock lending programs, and SEC regulations prohibiting IPO underwriters from lending out their shares to cover short sales for 30 days only a small fraction of the 34 million shares traded so far today are the result from short sales.

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S3 Analytics: Bed Bath & Beyond Rally Doesn’t Squeeze Shorts

Bed Bath & Beyond Inc’s (BBBY) stock price rallied 22% on March 27th when it was reported that three activist investment funds, Legion Partners, Macellum Advisors and Ancora Advisors are looking to wage a proxy battle for control of the domestic merchandise and home furnishing retailer. The funds are looking to completely overhaul both the entire board of directors and replace CEO Steven Temares.

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S3 Analytics: NKE short selling increases after extortion attempt

Short selling in Nike Inc (NKE) has seen a two day spike as news of an attempted extortion plot to tarnish the sports apparel giant’s reputation has been exposed.

NKE short interest is $729 million; 8.87 million shares shorted: 0.71% of its float. Between yesterday and today we have seen over 600 thousand additional shares of Nike shorted which has reversed a recent trend of short covering since early March.

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S3 Analytics: YETI Shorts Running out of Stock Borrows

Shares of Yeti Holdings Inc. (YETI US) are up 97% YTD and 33% from the most recent earnings call (2/14).  The rise in share price was bolstered by strong Q4 sales as well as comments on Dick’s Sporting Goods (DKS) earnings report citing strong demand for YETI’s products.

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S3 Analytics: Turtle Beach Shorts Win on Modest 2019 Guidance Numbers

Turtle Beach Corp (HEAR) reported 4th quarter and full year 2018 results yesterday, with CEO Juergen Stark disclosing 4th quarter results that hit “record sales & profits” and market share increasing by 3.7%. Unfortunately, Turtle Beach also revealed they are amending their 2nd and 3rd quarter filings due to erroneous accounting procedures regarding their 2018 warrant issuance and modest 2019 earnings and EPS guidance.

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