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Equities

LYFT Shares Shorted Decline After Early Lock-Up Expiry

In early August LYFT Inc (LYFT) surprised the market by announcing that its pre-IPO lockups would expire one month earlier than planned. On August 19th 258 million shares of LYFT stock would be eligible to be sold and the market braced for a wave of long selling that would negatively affect LYFT’s stock price. In actuality, the effect was minimal, with LYFT’s stock price only falling by 2.40%, although the stock is down 12.76% since the August 7th announcement date.

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UBER & LYFT Shares Slam into Reverse

Uber Technologies Inc (UBER) and Lyft Inc (LYFT) shares prices had been strengthening recently, but after UBER reported a larger than expected $5.24 billion second quarter loss, both stocks are down for the day. UBER and LYFT are the largest shorts in the domestic Trucking Sector and today’s performance will certainly increase the amount of short selling in both stocks.

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Most Expensive U.S. Stock Borrows: Beyond Meat

Long shareholders can take advantage of heavy short selling in their securities by lending out their “in demand” shares and earning stock loan fees by lending out their “fully paid for” shares. Stock borrow fees are calculated daily and stock loan transactions are done on an “overnight” basis (the stock loan can be terminated or recalled daily.) Below are the top 25 most expensive U.S. stock borrows with at least $50mm in short interest.

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Most Expensive Stock Borrows

Short sellers are paying high short financing fees in some securities as stock loan supply has been taken down. BYND short sellers are paying over $2.3 million\day in stock loan financing fees. If you are long any of these stocks it might be worth while talking to your broker to lend them out and earn a portion of those borrow fees.

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S3 Analytics: BYND Shorts Still Dodging Short Squeeze

Beyond Meat Inc’s (BYND) stock price soared to $201.88 at the open, a +19% move, after being up 12% on Monday. BYND short sellers took a $100 million mark-to-market hit to their P\L yesterday and were down an additional $173 million in mark-to-market losses at the open. At the open, short sellers were down $739 million in mark-to-market losses since BYND’s IPO. BYND’s stock price could not hold their early morning gains and is now up just under $1 for the day. Shorts are now down only $4 million in daily mark-to-market losses, down a total of $570 million in mark-to-market losses since the IPO.

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RH Shorts Lose Half Their YTD Profits on 18% Move

Following less than hoped for fourth quarter results RH turned the tables on analysts and reported first quarter results that beat on both earnings and sales. In addition to its strong performance CEO Gary Friedman gave a positive outlook for the rest of 2019. RH surged at the open and maintained most of its gains, up 18% in mid-afternoon trading. Short sellers have been trimming their exposure to the company in 2019, covering 2.0 million of their shares shorted, a decline of -28%. Most of the short covering occurred after RH’s stock price fell almost $29/share on March 29th and short sellers began taking profits.

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S3 Analytics: BYND Shorts Are Getting Roasted

Beyond Meat Inc (BYND) reported 1st Quarter increased revenues of $40.2 million, an increase of 215% year on year as well as projecting full year revenues of $210 million. With sales and retail demand growing at breakneck speed Beyond Meat has increased its manufacturing capacity in hopes of meeting the additional demand. The plant based protein food producer believes it will become “break even” on an EBITDA basis for the year.

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