Negg sell short borrow rate is 56% via /r/wallstreetbets #stocks #wallstreetbets #investing

Negg sell short borrow rate is 56%

i own 2000 shares of negg, and no clue why it keeps going down, but on etrade it's a hard to borrow stock to short and the borrow rate is 56% (one of the highest i seen). float size in 12.7 mil shares and current short volume is 1.68mil shares, so from that seems we're still very far from a squeeze if ever, but at that borrow rate and current price of 3.10 are shorts really expecting negg to go bankrupt? it's been around since 2001 and has survived numerous down turns and amazon isnt going to steal its market share (negg has their own supply chains direct from manufacture, just look at their supply vs amazon during amd cpu and the gpu shortage). been selling cc on it since jan after my puts got assigned so my cost base on them been zero since may, would like others thoughts on this stock, was doing great selling both puts and cc on it but if price keeps falling not really worth the option prem much longer.

Submitted September 08, 2022 at 04:01PM by poopymaster88
via reddit