ROKU short interest is $777 million; 15.09 million shares; 24.58% of float; stock borrow cost is GC.
ROKU continues to be the largest short in the Consumer Electronics Sector, ahead of Garmin (GRMN) at $567 million.
We are not seeing a short squeeze today, and actually seeing a bit of short selling into this 20% rally as some shorts are looking for a slight rebound off intraday highs.
ROKU shorts were already down -$247 million in mark to market losses prior to todayâ€™s move and are down an additional $78 million today, bringing year-to-date losses to $325 million, down 52% on the year.
If ROKUâ€™s stock strength continues we will start seeing short covering in earnest as this yearâ€™s losses continue to mount, especially since theyâ€™ve already eaten up all of last yearâ€™s $172 million in mark to market profits. We saw most of this yearâ€™s short activity in the first half of January and just slight growth thereafter, if the short covering floodgates open we should see a quick and crowded run for the exits of several million shares from this yearâ€™s short sellers.
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Managing Director Predictive Analytics, S3 Partners, LLC
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