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Shorts pile into GoPro

  • "Although still early days, data from SunGard’s Astec Analytics shows the cost of borrowing GoPro (GPRO -13.9%) shares ... has immediately become one of the highest on our system," says analyst Karl Loomes.
  • He adds GoPro's utilization level (the % of shares available on level that are being borrowed) is near 100%. "It wouldn't surprise me if this is a bet against the immediate increase in share price, and not necessarily a bet against the company."
  • Is this a repeat of Twitter? Shorts borrowed virtually every Twitter share they could find (often at high rates) as the microblogging service blasted off following last fall's IPO. Short-squeezes helped drive shares nearly to $75, but those who didn't cover made out well.
  • Earlier: GoPro sees profit-taking
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