Snap Inc (SNAP)

[fromtheuk]

In the runup to the last earnings release short interest in SNAP increased from around 85 million to 118 million. No doubt many (myself included) thought the release would be very similar to those previous. The spike in the stock price was no doubt at least partially a squeeze on the shorts as it dropped to 90 million.

I suspect since then, its been creeping back up again, 90 million is a huge short figure and will be holding the stock back. It will also account for the pump / dump / scam types of posts that seem to be increasing.

I really wish the rules around shorting were cleaned up. To me it amounts to stock manipulation. I dont think it should be prevented entirely, but whats allowed today is damaging.