Judging by Facebook‘s short-interest levels, a good number of investors seem to be betting that the social network’s shares will struggle for some time.
As of May 31, the company’s short interest amounted to 34 million shares, according to the Nasdaq stock market. Given its average daily trading volume of 108.3 million shares, Facebook has a fairly high short-interest ratio.
It’s yet another sign of investor dissatisfaction with the company, nearly a month after its glitch-filled debut. Facebook’s stock closed down slightly on Monday, at $27, and remains about 29 percent below its initial offering price.
- Wall Street’s Facebook losses keep growing (finance.fortune.cnn.com)