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S3 Research

  • ETFsS3 Research

    ETF Short Side Recap

    by Ihor Dusaniwsky

    We track over 2,900 ETFs with short interest in the U.S. domestic market with total short interest of $244 billion. Over the last 30 days we have seen net short selling of +$14 billion, with  1$1.1 billion of short covering over the last week. Overall, the S3 short interest as a % of float for these ETFs is 15.53% while the traditional short interest % of float is 21.43%. The average stock borrow rate is 0.71% fee.

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  • CannabisS3 Research

    Cannabis Sector Wide Short Squeeze

    by Ihor Dusaniwsky

    Total short interest in the almost 200 U.S. and Canadian cannabis stocks in our portfolio is $4.95 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 $4.86 billion, 98% of the total. Short interest in our portfolio has increased by $1.81 billion over the last thirty days and $1.23 billion as the sector has rallied strongly. Canopy Growth Corp (CGC US, WEED CN) continues to be the largest short in the sector but Tilray Inc (TLRY US) has closed the gap significantly.

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  • GMES3 Research

    $GME Stock Slides As Short-Squeeze Rallies Start To Unwind

    by Ihor Dusaniwsky

    If long shareholders see the tumbling stock as a new buying opportunity, we may be at the start of part deux of the GME short squeeze.
    By Ihor Dusaniwsky

    The momentum against GameStop picked up on Tuesday morning as the short-squeeze rallies fueled by traders on Reddit’s r/WallStreetBets forum started to unwind. Shares of the retail investor favorite were sent tumbling as hedge funds and Reddit traders alike were left to wonder what’s to come for the volatile stock.

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  • GMES3 Research

    New S3 Partners Data Reveals $GME Short Bets Decline

    by Ihor Dusaniwsky

    The retail-hedge fund battle rages on. We’ll reveal more $GME insights tomorrow morning. Meanwhile, follow us on Twitter for updates.

    Last week, the brick-and-mortar video game retailer GameStop hijacked the national conversation as a tidal wave of retail investors bandied together to buoy the company’s stock in a social-media-led move against short-sellers. The resulting dynamic also upended the share price of several other companies, led to a social-media revolt against the Robinhood trading app, united the unlikely political bedfellows Ted Cruz and Alexandria Ocasio-Cortez, and generally left investors scratching their heads about what was to come next.

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  • GME shares shorted are now 27.13 million.

    A week of retail investors running up the price of struggling stocks has shocked Wall Street, forced the world to pay attention, and left a trail of chaos and confusion in its wake. Investors were left unsure of what would happen next.

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  • S3 Research

    GameStop Shorts Down $5 Billion in 2021

    by Ihor Dusaniwsky

    GameStop Corp (GME) continues to rally today and is now up over +370% in 2021. GME shorts and longs are in a knockout battle being waged in the stock market as well asocial media platforms. Both sides are holding their ground with strong conviction, but in the end, one side will be the outright winner, and in the later rounds of this prize fight the long shareholders are way ahead on points.

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  • S3 Research

    2020 Short-Side Winners/ Losers

    by Ihor Dusaniwsky

    Overall short exposure in the domestic market grew by $108 billion in 2020 to $1.05 trillion in equity\ADR short interest. This rise in short interest masked the fact that short sellers were actively covering their positions into the 2020 rally. The $282 billion of mark-to-market increase in the value of shares shorted was partially offset by $175 billion in buy-to-covers. Short-side mark-to-market losses caused short squeezes in many shorted domestic equities/ADRs.

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  • InternationalS3 Research

    2020 4th Quarter Global Short Selling Recap

    by Ihor Dusaniwsky

    Looking at Short Interest as a % of Float, we do see a significant decrease in shares shorted, but just counting the total amount of physical shares shorted does not give a complete picture of short selling and short exposure. We need to look at Short Interest, or dollars at risk, to truly see what the shorts are doing.

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  • S3 Research

    Cannabis Sector Recap

    by Ihor Dusaniwsky

    Total short interest in the over 200 U.S. and Canadian cannabis stocks in our portfolio is $2.85 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 $2.81 billion, 99% of the total. Short interest in our portfolio has increased by $1.15 billion since the Russell 3000 market low on March 23rd. While short interest in our portfolio has increased from year-to-date low levels, it has been relatively stable over the last 30 days, down only -$27 billion. Canopy Growth Corp (CGC US, WEED CN) continues to be the largest short in the sector by a wide margin.

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  • S3 Research

    Potential Short Squeezes

    by Ihor Dusaniwsky

    Equity short squeezes can come from an accumulation of mark-to-market losses and\or high stock borrow costs which eat up an unacceptable amount of expected Alpha. Looking primarily at the mark-to-market losses I have combed over the nearly 14 thousand domestic stocks with short interest to see which stocks are short squeeze candidates. In my analysis I am looking at stocks with over $100 million of total short interest to include only stocks where the short covering from a squeeze can materially affect stock prices. Below are the top ten stocks by market cap with the largest weekly mark-to-market % losses, mark-to-market monthly % losses over -20% and stock loan borrow rates over 7% fee.

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