S3 Research

  • While Jeff Bezos and Blue Origin are celebrating for boldly sending a 90-year-old where no 90-year-old has ever gone before as Captain Kirk\William Shatner reached outer space this week, Sir Richard Branson and Virgin Galactic may be looking to beam Scotty up to address the flight capability of its VMS Eve and VSS Unity space vehicles which have delayed their near-term space flights. This delay in test flights and future commercial flights saw Virgin Galactic Holdings Inc (SPCE) fall over 20% in premarket trading and now down -13% in early morning trading.

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  • We follow 1,429 SPAC securities (equities and warrants) that have short interest on our Blacklight SaaS Platform and Black App. Total short interest in the SPAC sector has been declining over the past few months as large SPAC short positions such as Churchill Capital Corp IV (CCIV), Social Capital Hedosophia Holdings V (IPOE) and Switchback Energy Acquisition Corp (SBE) were de-SPACed. Total SPAC short interest has fallen below the $1 billion dollar level in September\October for the first time since the beginning of the year and is now $934 million, down over $2.5 billion from highs of over $3.5 billion in May.

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  • Short interest in the domestic market decreased by -$46.7 billion, or -3.93%, to $1.14 trillion in the third quarter of 2021. Even though the overall market was relatively flat (S&P 500 up +0.23%, Nasdaq down -0.38% and Russell 3000 down -0.43%), the majority of this decrease, -$55.5 billion, came from mark-to-market depreciation of the shorted securities. There was also +$8.8 billion of additional short selling in the quarter as short sellers increased their bets on potential market underperformers.

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  • EquitiesS3 Research

    S3 Analytics: GC v Non-GC Short P\L

    by Ihor Dusaniwsky

    We follow 13,802 U.S. traded stocks and ADRs with active shares shorted in our Blacklight SaaS platform and Black App with $1.09 trillion of short interest. Average Short Interest % of Float is 4.97% and S3 SI % Float (which includes synthetic longs created by every short sale in the Float number) is 4.50%, while the average stock borrow fee is 0.64%.

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  • EquitiesETFsS3 Research

    S3 Analytics: ETF Short Recap

    by Ihor Dusaniwsky

    There are 2,769 ETFs and Funds with active shares shorted in our Blacklight SaaS platform and Black App with $254 billion of short interest. Average Short Interest % of Float is 20.25% and S3 SI % Float (which includes synthetic longs created by every short sale in the Float number) is 14.95%, while the average stock borrow fee is 0.81%. As a comparison, U.S. equities have an average SI % Float of 5.10%, S3 SI % Float of 4.60% and average stock borrow fee of 0.67%.

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  • EquitiesS3 ResearchUranium

    S3 Analytics: Are Uranium Stocks the New Meme Stocks?

    by Ihor Dusaniwsky

    Uranium stocks and ETFs have had a very strong 2021 with the Sprott Physical Uranium Trust (U-U CN, SRUUF US) up 49% for the year. Two ETFs that hold uranium mining, exploration and production stocks are the Global X Uranium ETF (URA US) and NorthShore Global Uranium Mining ETF (URNM US) were up +51% and +76% respectively.

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  • S3 Research

    What Goes Down Must Go Up?

    by Ihor Dusaniwsky

    Yesterday’s worldwide market sell-off brought about by the possibility of China Evergrande Group’s (3333 HK) credit default was a profitable market event for short sellers. Total U.S. equity short interest is $1.13 trillion, and shorts were up +$24.39 billion, +2.16%, in one day mark-to-market profits as the S&P 500 fell -1.70% and the Nasdaq fell -2.19%.

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  • S3 ResearchUncategorized

    Casino & Gaming Short Interest

    by Ihor Dusaniwsky

    Casino & Gaming stocks have fallen this week as Chinese regulators proposed changes in the Macau gambling industry. With the 20-year-old gaming licenses up for renewal next year, regulators are reconsidering the number and duration of new licenses they will issue. Some of the other items under consideration are an increase from the present 10% minimum local ownership of casinos; the addition of government representatives on casino boards to supervise activities and prior approval for distribution of profits to shareholders. Many U.S. and Chinese\Hong Kong casino and gaming stocks were down during the week.

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