As we warned earlier, the shorts have been unleashed in Snap (as T+3 settlement enables "borrow"). Snap is down 12% today and down 30% from Friday"s highs as S3 Partners says short-interest in the "camera" company has reached $100 million...
- BROKERS LENDING SNAP SHARES TO SHORT SELLERS AT RATES BETWEEN 20 AND 40 PCT – S3 PARTNERS
- SNAP SHORT INTEREST APPROACHING $100 MLN – S3 PARTNERS
And the result..
Next stop $17?
