Edit: 1 minute ago S3 updated their new stock borrow costs from the original 90-110% fee to now 90-250% fee. I’m trying to confirm with them and to see why the increase in just an hour?
From S3: BYND short int is $979 mm; 5.76 mm shares shorted; 49.18% of the float; 86.12% borrow fee with rates rising. New stock borrows at 90% to 110% fee. Shares shorted increased by 488k, +9.26%, this week as stock rose 12.15%. Shorts are down $102mm in mark-to-market losses this week.
Yesterday and today have been painful, but I’m still holding my August Calls. Short interest on the rise again, borrow rates going up again. I think this leads to a bigger squeeze down the line. But I could always be wrong. My risk tolerance is high. So if you are nervous about your positions, don’t be afraid to take profits (or losses!).