SNAP Plunges As Shorting Begins

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?