Weāve just updated our UBER short interest numbers:
UBER short interest is $846 million; 21.18 million shares shorted; 11.77% of float; stock borrow rate of 2.50% fee remains relatively cheap for an IPO with this size and buzz.
There is quite a bit of stock available to borrow so UBER short selling will not be hampered by lack of borrow supply. Weāre seeing large blocks of stock being borrowed today, with this size of stock trading hands and more availability on the street than originally anticipated we are expecting stock borrow rates to ease slightly, dipping below the 2% fee level today and possibly nearing 1% fee over the next few days.
We are seeing continued UBER short selling today even with the stock up 1% in early morning trading. With the stock now in the red, short selling may ramp up as momentum short side traders get more active.
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Managing Director Predictive Analytics, S3 Partners, LLC
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