Redfin real-time short interest is at 19.89 million shares shorted for 31.09% of float the available float. $299.6 million is at risk wagering on a share price decline.
Short interest in terms of shares shorted is currently at an all-time high, looking back to its July ‘17 IPO.
Bearish speculators have continuously increased their short exposure leading into each quarterly earnings call in 2018 (blue vertical lines).
Despite beating estimates for 3Q last week, the share price still opened lower after weaker than expected 4th quarter guidance amid slowing housing growth and higher mortgage rates.
Redfin is currently the #2 short by notional value within the US Real Estate Services, only behind Realogy Holdings (RLGY) with $513.35 million at risk.
Want deeper insight into the above analysis?
Contact: Matthew.Unterman@s3partners.net
Director – Securities Finance, S3 Partners, LLC
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