Twitter short sellers double down, as Square shorts run for cover [MarketWatch]
Block, Inc. Class A, (SQ)
Last block, inc. class a, earnings: 2/26 04:05 pm
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Source: MarketWatch
Twitter short sellers double down, as Square shorts run for cover Two Jack Dorsey companies, alike in their huge stock rallies, differ when it comes to recent short-selling sentiment. That’s according to a recent analysis from financial technology and analytics firm S3 Partners, which looked at short-interest trends for Square Inc. SQ, +2.47% and Twitter Inc. TWTR, +2.63% Square shares have gained 95% so far this year, while Twitter’s stock is up 92%. The S&P 500 SPX, +0.17% is up just 3.5%. “The main difference I see is that Twitter short sellers are selling into the stock’s rally and increasing their short exposure substantially in June, while Square short sellers are buying to cover some of their short positions in order to stay around the $2 billion level,” said Ihor Dusaniwsky, the managing director of predictive analytics at S3 Partners. Short interest in Square reached $2.1 billion Wednesday, up only slightly from $1.9 billion at the end of May but nearly double the $1
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