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Lyft Short Bets Are Now Most Expensive in U.S., Markit Says
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A surge in demand for short positions in Lyft Inc., the ride-sharing company that went public last week, has made it the most expensive bearish bet in the U.S. equity market.
Tuesday was the first day investors were able to borrow shares to settle short sales, and the cost of funding a new short stake rose 100 percent, according to IHS Markit. That makes Lyft the “most expensive to borrow” U.S. stock with more than $5 million in balances, Markit’s director of securities finance Samuel Pierson said in an emailed statement.