SNAP Inc (SNAP) short interest is $964 million; 136.88 million shares shorted; 23.78% of float; stock borrow is 30 bp fee (general collateral). SNAP is the 6th most shorted stock in the domestic Interactive Media & Services sector.
SNAP is up over 21% in pre-market trading, which will start short sellers with over $200 million in mark-to-market losses right at the open. Shorts were already down $209 million in mark-to-market losses year-to-date, -24.17%, so todayâ€™s pre-market losses would nearly double short sellers year-to-date losses with a return of almost -50% for the year.
We are seeing early indications of active short selling in the stock today, short sellers may be looking for a partial reversal after an exuberant opening surge.
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Managing Director Predictive Analytics, S3 Partners, LLC
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