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Short sellers test the waters on Twitter

14
Nov
2013

By Rodrigo Campos NEW YORK (Reuters) – Short sellers are starting to circle around Twitter shares in their first chance at betting against the micro-blogging sites stock, a sign some investors think the share price will fall. Data on Wednesday showed the cost to borrow Twitter shares jumped from 5 percent to about 13 percent on an annualized basis, after having touched 20 percent earlier in the day. The current cost to borrow indicates interest to short the stock is definitely high according to Timothy Smith, executive vice president at SunGards Astec Analytics, the provider of the data. At this point, it appears unlikely that Twitter will be a repeat of the tidal wave of negative bets that dogged Facebook after its debut last year.

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