The Only Complete Data Set for Long and Short Positioning. The 7th category of the new Financial Data Stack. https://teapaw.org/t.co/AeEzPLicWE
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Yesterday on Risk & Return, @BobSloanS3: "Look at $CRWV short interest in comparison to the price action. They've got it right. So specialists leaving short interest rising. Probably not so great for the stock."
We've been covering CoreWeave $CRWV positioning all year, on yesterday's show we went back over the timely positioning updates YTD and broke down the current setup.
March on Bloomberg: "Shorts don’t like the business model, it’s a leveraged bet on outrunning the debt."
youtu.be/fEyH1tYq5eI?si=J3aI…
Shorts are betting against the AI worker.
The data center buildout needs electricians, welders and pipefitters. Short sellers have been building positions since January in the companies that house them ($CVEO, $TH), outfit them ($SNA) and train them ($UTI).
S3 founder and managing partner Bob Sloan breaks it down on this week’s Risk & Return with @CGasparino. Full episode links in comments ⬇️
S3 Partners retweeted
Live now on Risk & Return with @BobSloanS3: how the AI “apocalypse” plays out in the markets, and why OpenAI is likely to IPO in Q1 following Anthropic.
Plus college sports reform back on the table in the lame duck session after Tuesday’s midterms. Watch:
youtube.com/live/UN0OUUWFS28… @S3Partners
S3 Partners retweeted
Thank you @CharlotteYTYang @business for highlighting @S3Partners positioning data on BYD - 1211 HK.
Short sellers are paring back bets against BYD ahead of earnings, with the Chinese electric vehicle giant poised to post a rebound in profit helped by accelerating overseas sales and a domestic market recovery bloomberg.com/news/articles/…
S3 Partners retweeted
The more I report it out, the more I tend to believe that the AI collapse wont be a collapse in the classic sense that we're used to, ie the 2000 meltdown in dotcom stocks like Pets.com that takes down EVERY part of the tech sector before the best comes back. This will be more segmented. The @CoreWeave's of the world aka the neoclouds get hammered as financing dries up for all but best in breed; @Meta benefits because its AI push is powered by a diversified biz model that pumps out lots of cash. @SpaceX -- first out of the box -- capitalizes for the same reason and because @elonmusk is brilliant and has already done his IPO. @AnthropicAI and @OpenAI get their financing done, but the markets will pick the winner. @BobSloanS3 and I will discuss all of the above at 4pm edt on the latest edition of "Risk and Return" plus @S3Partners latest data on market positioning and my scoops
Credit shorts are following the Treasury selloffs. $LQD short interest went from 17% to 28% of float this year, $HYG from 26% to 61%. The builds came in two bursts, March and September, each right after a sharp $TLT drop.
In January and March, shorts rotated out of TLT and into credit. This time they didn’t rotate, they added.
Read full report:
s3partners.com/articles/lqd-…
S3 Partners retweeted
$CRWV short interest update:
70.6M shares short, up 9.4M (15%) since the start of October while the stock fell 28% to $62. Most shorted since July, >20% of float short.
For more CoreWeave positioning updates watch yesterday's episode of Risk & Return with S3 founder and managing partner @BobSloanS3 & @CGasparino of Fox Business/NY Post: youtu.be/Fe3xC-Gswc4?si=xR70…
S3 on $JBLU Oct 14 ⬇️
Current short interest up to 104M shares!
Full report from @S3Partners in post below.
On the latest Risk & Return: oil exposure is a big part of why shorts are pressing airline stocks.
Short interest as a percentage of float has climbed and stayed there. The less expected part is the other side. Active long manager holdings are also increasing.
@BobSloanS3 on the two theses fighting over the group, and why it is not a battleground yet by our definition. Then Bob and @CGasparino get into what they're looking at for next week's episode!
$JBLU $ALK
youtu.be/k8NLUXAzKRk?si=L5hr…
S3 Partners retweeted
levered stress test of NVDA business model. Question is: Will Jensen come to the rescue?
$CRWV short interest update:
70.6M shares short, up 9.4M (15%) since the start of October while the stock fell 28% to $62. Most shorted since July, >20% of float short.
For more CoreWeave positioning updates watch yesterday's episode of Risk & Return with S3 founder and managing partner @BobSloanS3 & @CGasparino of Fox Business/NY Post: youtu.be/Fe3xC-Gswc4?si=xR70…
S3 Partners retweeted
KOSPI short interest has more than tripled since South Korea lifted its short selling ban: ~1.5% of float in March 2025 to 5.0% now.
Shorts kept building into the June high and barely budged through a 40% correction.
S3's @MattUntermanS3 breaks it down: s3partners.com/articles/kosp… #KOSPI
S3 Partners retweeted
S3's founder & managing partner @BobSloanS3 explained the CoreWeave story and called it the most important stock in the market March 13, on @BloombergTV with @daniburgz & @mattmiller1973.
Tune in to the latest episode of Risk & Return to see the latest updates on CoreWeave positioning and what the data is saying now! Streaming links in comments.
$CRWV
🔎 Borrows are the naked mole rat of data. Blind. Buried. Useless.
Right now, S3's short interest data is surfacing something the rest of the market is still catching up to. And it starts with the most important stock in the market: $CRWV.
CoreWeave is the levered stress test for the entire Nvidia demand thesis. Borrow money. Buy chips. Rent compute. Hope the revenue outruns the debt service. Shorts don't believe it. 🚨
But the real story is the connectivity.
— $CRWV: The market is voting against the model.
— $OWL: Shorts don't believe the marks. Blue Owl is Bear Stearns. Today.
— $ORCL: $100B of investment grade debt trading at 2008 CDS levels. Short interest 2, 3, 4 standard deviations from the mean. The Lehman to Blue Owl's Bear Stearns?
📣 Bob accurately said that these software business models are hard to replace and correctly read the ORCL situation.
S3's @BobSloanS3 walked through all of it live on @BloombergTV. 👇
KOSPI short interest has more than tripled since South Korea lifted its short selling ban: ~1.5% of float in March 2025 to 5.0% now.
Shorts kept building into the June high and barely budged through a 40% correction.
S3's @MattUntermanS3 breaks it down: s3partners.com/articles/kosp… #KOSPI
S3 Partners retweeted
Last week on Risk & Return I reported Meta was setting up for a monster secondary before the Anthropic IPO. Yesterday Zuck confirmed it with a new share class to pay for the AI build.
The shorts smelled it first. @S3Partners data had Meta short interest climbing since August.
My partner @BobSloanS3 on why Meta moved first:
youtu.be/f8-5vfXf7ls?si=syy2…
$META
$CRWV short interest update:
70.6M shares short, up 9.4M (15%) since the start of October while the stock fell 28% to $62. Most shorted since July, >20% of float short.
For more CoreWeave positioning updates watch yesterday's episode of Risk & Return with S3 founder and managing partner @BobSloanS3 & @CGasparino of Fox Business/NY Post: youtu.be/Fe3xC-Gswc4?si=xR70…
$CRWV short interest update:
70.6M shares short, up 9.4M (15%) since the start of October while the stock fell 28% to $62. Most shorted since July, >20% of float short.
For more CoreWeave positioning updates watch yesterday's episode of Risk & Return with S3 founder and managing partner @BobSloanS3 & @CGasparino of Fox Business/NY Post: youtu.be/Fe3xC-Gswc4?si=xR70…
S3's founder & managing partner @BobSloanS3 explained the CoreWeave story and called it the most important stock in the market March 13, on @BloombergTV with @daniburgz & @mattmiller1973.
Tune in to the latest episode of Risk & Return to see the latest updates on CoreWeave positioning and what the data is saying now! Streaming links in comments.
$CRWV
🔎 Borrows are the naked mole rat of data. Blind. Buried. Useless.
Right now, S3's short interest data is surfacing something the rest of the market is still catching up to. And it starts with the most important stock in the market: $CRWV.
CoreWeave is the levered stress test for the entire Nvidia demand thesis. Borrow money. Buy chips. Rent compute. Hope the revenue outruns the debt service. Shorts don't believe it. 🚨
But the real story is the connectivity.
— $CRWV: The market is voting against the model.
— $OWL: Shorts don't believe the marks. Blue Owl is Bear Stearns. Today.
— $ORCL: $100B of investment grade debt trading at 2008 CDS levels. Short interest 2, 3, 4 standard deviations from the mean. The Lehman to Blue Owl's Bear Stearns?
📣 Bob accurately said that these software business models are hard to replace and correctly read the ORCL situation.
S3's @BobSloanS3 walked through all of it live on @BloombergTV. 👇
The shorts are back in CoreWeave. Short interest up 8M shares in October to 68.5M, the most since July, as the stock fell 30% to $61. Passive investors own nearly half the company, and some tech specialists have exited this year. $CRWV
The AI buildout trade split after June. Neoclouds down 24%, hyperscalers up 17%, and shorts are adding at all three neoclouds. $BE $NBIS $IREN
New episode of Risk & Return with S3 founder and managing partner @BobSloanS3 and @CGasparino of the NY Post and Fox Business, plus Charlie on Anthropic’s S-1 and the Meta equity raise he reported on weeks ago.
Full episode: youtu.be/Fe3xC-Gswc4?si=WFYP…