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6 months ago
Snap short interest approaching $100 million – S3 partners
March 7, 2017 / 4:41 PM / 6 months ago

Snap short interest approaching $100 million – S3 partners

Traders gather on the floor for the IPO of Snap Inc. at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2017.Brendan McDermid

SAN FRANCISCO (Reuters) - Early short selling in Snap (SNAP.N) on Tuesday was approaching $100 million, according data from S3 Partners.

After Snap's red-hot public listing last Thursday and then a sell-off this week, brokers on Tuesday were charging short sellers annualised rates of between 20 percent and 40 percent to borrow the shares, according to S3 Partners.

Reporting by Noel Randewich

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