Snap Bears May Drive $1 Billion of Short Sales Within a Week
- S3 Partners expects borrowing costs to start at 25 percent
- Snap shares surged about 60 percent in first two days
Gene Munster Says Snap Should Keep Expectations Low
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All the love for Snap Inc. is sure to draw out the haters.
That’s the view of S3 Partners LLC, a financial analytics firm, which says short interest in the photo-app maker is liable to reach $1 billion within a week, particularly if today’s rally continues. The contrary bet won’t be cheap, either, with the cost to borrow shares likely to start at 25 percent and rise.