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Investors Hoping to Short Tilray Find ‘Cupboards Are Bare’

  • Lack of inventory leads to borrow fees of 110%, S3 says
  • Tilray’s short interest amounts to 20% of free float shares
Pot Stock Analyst Leaves His Job a Week After Downgrading Tilray
Photographer: Cole Burston/Bloomberg
Updated on

Investors hoping to short Tilray Inc. may be out of luck as there are hardly any shares available to borrow, according to financial analytics firm S3 Partners.

The pot stock’s short interest currently stands at $265 million or nearly 20 percent of the company’s float and investors looking to borrow the stock are finding “the cupboards are bare,” S3 managing director Ihor Dusaniwsky wrote in an analysis. This is leading to stock borrow fees as high as 110 percent on the new “miniscule” short sales that are being approved.