Facebook (FB) Short Interest Nears Double-Digit Levels
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Short interest on Facebook (Nasdaq: FB) shares has risen markedly since short sales were first allowed on Tuesday.
According to DataExplorers, about 8 percent, or 33 million total shares, of Facebook's common shares outstanding are out on loan. This amounts to about 70 percent of the total shares available to lend.
Data from May 22nd showed just 4.3 percent of Facebook shares outstanding being held short.
Total cost to hold shares short on DataExplorers scale of 1 to 10 (with 10 being the most expensive) is currently at 6 for Facebook. Shares were at 10 on Tuesday, when borrowing was first allowed.
The move is looking a little sour Thursday, with Facebook up over 2 percent in early trading.
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According to DataExplorers, about 8 percent, or 33 million total shares, of Facebook's common shares outstanding are out on loan. This amounts to about 70 percent of the total shares available to lend.
Data from May 22nd showed just 4.3 percent of Facebook shares outstanding being held short.
Total cost to hold shares short on DataExplorers scale of 1 to 10 (with 10 being the most expensive) is currently at 6 for Facebook. Shares were at 10 on Tuesday, when borrowing was first allowed.
The move is looking a little sour Thursday, with Facebook up over 2 percent in early trading.
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