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S3 Partners

  • S3 Research

    HK-China Short Side Recap

    by Ihor Dusaniwsky

    Short activity in the HK-China region has been very active as the Hang Seng is down almost -2.0% in September. Total short interest in the HK-China region is $104 billion and we have seen +$2.03 billion of new net short selling over the last month and +$716 million worth of new net short selling over the last week.

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  • S3 Research

    NKLA a Short Squeeze In Motion

    by Ihor Dusaniwsky

    Hydrogen fueled truck designer\manufacturer Nikola Corp and its Chairman\Founder Trevor Milton have been responding to Hindenberg Research’s scathing report which calls the firm an “intricate” and “massive fraud”. NKLA’s stock price fell just over -10% in the first fifteen minutes of today’s trading but has since rallied back to up +11.3% by the end of the day. NKLA short interest is $352 million; 10.94 million shares shorted; 8.05% of its float. It is the 9th largest short in the Auto Manufacturing and Construction Machinery & Heavy Trucks sectors.

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  • S3 ResearchUncategorized

    Strong PTON Earnings Will Squeeze Shorts

    by Ihor Dusaniwsky

    Peloton Interactive (PTON) reported quarterly earnings after the close that significantly beat analysts’ expectations. Not only did EPS and revenues beat expectations but forward looking guidance was also above analysts’ preliminary expectations and paid digital subscription growth increased by over 200%. After being down -3.75% in today’s trading, the stock is up 10% in aftermarket trading on the news.

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  • S3 Research

    NKLA Falls -9.5% on Hindenberg Report

    by Ihor Dusaniwsky

    It seems oddly fitting that Hindenberg Research, named after the disaster of hydrogen-filled airship, has put out a scathing report trying to bring down Nikola Corp (NKLA), a hydrogen-fueled truck designer\manufacturer. In its report, Hindenberg Research calls Nikola an “intricate” and “massive fraud” just days after General Motors (GM) received an 11% stake in the company, worth $2 billion, in exchange for manufacturing its Badger pickup truck.

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  • S3 ResearchTesla

    TSLA Shorts up $7.1 Billion in September

    by Ihor Dusaniwsky

    To paraphrase the Grateful Dead, “what a long strange EV trip it’s been”. Tesla Inc’s (TSLA) stock price rocketed up +496% from January to August, but after its 5 for 1 stock split ex-date on August 31st and $5 billion stock offering on September 1st its stock price is down -18.3% in the first three days of September and down another -6.3% in today’s mid-day trading. TSLA continues to the largest short by a wide margin not just in the U.S. but also worldwide. TSLA short interest is $24.4 billion; 59.93 million shares shorted; 8.09% short interest % of float. Tesla remains a General Collateral stock borrow at 0.30% fee, the cheapest borrow rate for the easiest to borrow stocks.

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  • S3 Research

    CRWD Short Selling Returns

    by Ihor Dusaniwsky

    Cyber security firm Crowdstrike Holdings Inc (CRWD) is up +125% for the year as spending for IT security continues as “stay at home” workers creates more personal and corporate demand for its products. This meteoric rise has not escaped the roaming eyes of short sellers and they have increased their shares shorted by +85% during this rally. CRWD short interest is $1.09 billion; 9.70 million shares shorted; 6.62% of its float. CRWD is now the 6th largest short in the Software Systems Sector.

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  • ETFsS3 Research

    Increased Short Selling in Fixed Income ETFs

    by Ihor Dusaniwsky

    We track over 2.500 U.S. traded ETFs with an aggregate short interest of $191.1 billion. For the greater part of the last month we saw ETF short covering with $2.6 billion of total net short covering over the last 30 days. But recently we have seen an about face in ETF short selling with $5.9 billion of net short selling over the last 7 days.

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  • S3 Research

    GSX is Top New Short Over Last Week

    by Ihor Dusaniwsky

    Chinese online educational company GSX Techedu Inc ADR (GSX) had the largest increase of shares shorted over the past week with $923 million of new short activity over the last 5 trading days. GSX hit a year-to-date high of $131.27 on August 6th and has lost 33% of its value since then. GSX’s price decline may have been jump started by Citron Research and Muddy Watters Research “stock fraud” tweets. Earlier this year Grizzly Research joined Citron and Muddy Waters in calling the company a “fraud”.

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  • CannabisS3 Research

    Cannabis Sector Recap

    by Ihor Dusaniwsky

    Total short interest in the over 200 U.S. and Canadian cannabis stocks in our portfolio is $2.45 billion. Short selling is highly concentrated in a handful of names with short interest of the top twenty  most shorted stocks in the sector at $2.42 billion, 99% of the total. Short interest in the sector has increased by $706 million since the Russell 3000 market low on March 23rd , which includes $80 million of additional short selling. While short interest in the sector has increased from year-to-date low levels, it has actually decreased by just over $1.0 billion for the year which includes $182 million worth of short covering. Canopy Growth (CGC US\WEED CN) continues to be the largest short in the sector.

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