Shorts Keep Pressure on Blue Apron (APRN) - S3 Partners

Matt Unterman S3 Partners highlights bearish activity in Blue Apron (NASDAQ: APRN), utilizing proprietary data tracking $890 billion worth of short positions. as APRN shares have lost half their value since going public.

Currently, short-sellers have $69.3 million dollars at risk on the short side in APRN, up from $62.3 million at the end of September, while borrow rates have also jumped over the last few weeks. Unterman comments further on financing rates, saying "borrow rates have spiked on the back of this surge in demand, as new supply is now trading in the 16% range, double the cost where it was being lent to shorts just a week ago."

Despite the increase in borrowing costs, the short-sale in APRN has been a profitable one for speculators, resulting in $24.9 million mark-to-market returns this year, a stunning 33.25% on investment.

Source: www.S3Partners.net

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