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Investors pay top dollar to short Snap

Reuters  |  NEW YORK 

By Megan DaviesNEW YORK (Reuters) - Short-sellers placed more bets that shares of social media company Snap Inc would continue to fall on Tuesday, representing about 2.4 percent of trading volume in the stock, even though Snap is one of the most expensive shares on Wall Street to borrow.Around 600,000 shares were shorted in morning trading, according to Ihor Dusaniwsky at S3 Partners, a financial analytics firm. "Snap is one of the most expensive stocks to borrow on the Street right now," said Dusaniwsky. "For a stock that's that expensive, its quite a lot of demand." Short sellers borrow ...

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First Published: Tue, July 11 2017. 22:40 IST