(Reuters) - Shares in Arm Holdings were down 6.1% on Tuesday, on track for their third decline out of the stock's first four sessions as a listed ...
- Shares in Arm Holdings were down 6.1% on Tuesday, on track for their third decline out of the stock's first four sessions as a listed company as investor interest faded in the biggestSaltWire's Atlantic regional weather forecast for September 19, 2023 | SaltWire - Shares in Arm Holdings were down 6.
Data from analytics company Ortex on Tuesday suggested that short sellers had started taking bets against the stock with slightly more than 5 million shares of the newly listed chip designer"on loan," or 2.7% of the stock's free float. Short sellers need to borrow a stock to short it, and the relationship between shares on loan and shorted is normally quite close, according to Ortex.
Arm's average cost to borrow, which is the interest rate for borrowing, is currently at 12.76%, according to Ortex. By comparison, a similarly shorted stock, Tesla, has a cost to borrow at 0.48%, Ortex said.
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