Alibaba is the world's most shorted stock, says S3 Partners analyst

Alibaba Group (NYSE:BABA) shares are the most shorted stock in the world, even though the amount shorted has declined since August, says an analyst at S3 Partners.

There are 101.84mln Alibaba shares shorted, which accounts for 3.93% of the float, Ihor Dusaniwsky, S3′s managing director of Predictive Analytics, wrote in a tweet.

$BABA short interest is $16.56 billion, 101.84 million shares shorted, 3.93% of float. #Alibaba continues to be the most shorted stock worldwide even with a 30% decline in shares shorted since the end of August. pic.twitter.com/Cn2j0ldq93

— Ihor Dusaniwsky (@ihors3) September 20, 2018

Alibaba’s float stands at 865.69mln and the amount of shorts as of July 30 stood at 141.52mln, according to data compiled by Yahoo Finance.

READ: Alibaba’s fiscal 1Q revenue beats Street, driven by e-commerce gains and cloud division

The Chinese e-commerce giant’s founder, Jack Ma, is stepping down as executive chairman, saying he wants to die on the beach rather than in the office.

The company has been criticized by the US Trade Representative as a marketplace for fakes.

Story by ProactiveInvestors