Jun. 19 at 7:07 PM
$CGXEF Take a look at the chart.
Shortable Shares have barely changed over the past year and are still sitting around 3.3–3.4 million. Meanwhile, the borrow rate has already reached 17.87% today (not yet reflected on the chart), which is the highest level of the year.
This creates a strange picture: there are roughly the same number of shares available to short, but shorting has become significantly more expensive. At the same time, interest in shorting appears to be at its highest in quite a while.
It looks like someone really wants to short the stock, which is pushing the borrow rate higher, yet the actual volume of shorting seems relatively low. Is this normal, or am I missing something?