Short sellers target Reddit shares as stock slips
The Star Online - Tech·2024-03-28 08:01
NEW YORK (Reuters) - Reddit stock's stellar market debut has drawn significant bearish bets against the social media forum in its first few days of trading, data from analytics company Ortex on Wednesday showed.
Based on 2.15 million Reddit shares out on loan, at least 7.1% of the company's free share float has been sold short, according to a preliminary Ortex estimate.
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