Uber Short Interest Reaches $768 Million on Third Day of Trading
(Bloomberg) -- Here’s the number you’ve been waiting for. The first reading of how much is being bet against Uber Technologies Inc.’s stock is out and it’s just shy of a billion dollars.
Uber short interest totals $768 million with borrow rates around 3% to 5%, according to data provided by financial analytics firm S3 Partners LLC. That represents about 11.51% of the float or 21.71 million shares in total.
For comparison, about 62% of the float of ride-hailing competitor Lyft Inc. is currently shorted at an offer of 14%. Lyft has lost 30% since its debut in March.
Uber is having its first positive day since trading began on Friday, when the stock fell 7.6%. Shares gained as much as 3.9% Tuesday to $38.55 each, but remained below the IPO price of $45.
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