ROKU short interest is $368 million; 8.73 million shares shorted; 12.95% of the float with a stock borrow rate of General Collateral (30 bps fee).
ROKU’s stock price is down 7% today after Citron Research called the stock “uninvestable” as “Apple teams up with Samsung” to stream content via iTunes.
Shares shorted had increased by 825 thousand over the previous week and we have seen an additional 1 million shares in short selling today … this is a 23% increase in short exposure as the stock price rose 28%.
There is still ample stock available to borrow at General Collateral levels and if ROKU’s price weakness continues we should see continued short side pressure in the name along with long side selling to realize recent unrealized profits.
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Managing Director Predictive Analytics, S3 Partners, LLC
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