NVIDIA Corp (NVDA) short interest is $2.07 billion; 14.30 million shares shorted; 2.45% of float; stock borrow is 30 bp fee (general collateral). NVDA is the 8th most shorted stock in the worldwide Semiconductor sector.
NVDA is up 3.5%, +$5.16/share, today after TRC Capital Corp place a â€śmini-tenderâ€ť offer for 1 million shares of NVDA stock at a price of $149.88/share.
NVDA short sellers had been holding onto their short exposure as NVDAâ€™s stock price hit $160.15/share on 1/27/19, losing just over $500 million in mark-to-market losses is less than a month in 2019. Â Shorts recouped those losses when NVDAâ€™s stock price fell almost 18% on the 28th and 29th and we began to see short covering as short sellers looked to lock in their profits. Shares shorted has decreased by 5 million shares since the 27th , -26%, as NVDAâ€™s stock price bounced back to $144/share.
With NVDA rallying again today, we are seeing increased short selling this morning as shorts are looking for a reversal from todayâ€™s quick and sudden upturn. If long buyers run out of steam and take a breather this afternoon, shorts may be able to reverse some of this morningâ€™s gains.
Want deeper insight into the above analysis?
Contact:Â [email protected]
Managing Director Predictive Analytics, S3 Partners, LLC
For more information on S3â€™s reporting, data and analytics solutions, email us at [email protected]. Start your free trial of the BLACK App â€“ the only source of real-time short interest on the Bloomberg Terminal or Thomson Reuters Eikon.
For short side data and access to our research reports go to https://shortsight.com/.
The information herein (some of which has been obtained from third party sources without verification) is believed by S3 Partners, LLC (â€śS3 Partnersâ€ť) to be reliable and accurate.Â Neither S3 Partners nor any of its affiliates makes any representation as to the accuracy or completeness of the information herein or accepts liability arising from its use.Â Prior to making any decisions based on the information herein, you should determine, without reliance upon S3 Partners, the economic risks and merits, as well as the legal, tax, accounting and investment consequences, of such decisions.