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Traders have a $1.5 billion bet riding against Uber (UBER, LYFT)


Dara KhosrowshahiCarlo Allegri/Reuters

  • Short-sellers have ramped up their bets against Uber to $1.5 billion.
  • Borrowing of Uber shares has surged by more than 160% in the past two weeks, to 36 million shares from 13.6 million.
  • The value of short positions in Uber has passed the value of those in Lyft for the first time.
  • Watch Uber and Lyft trade live.

Uber's disappointing public debut may be just the start of its problems. Traders, skeptical that it can maintain growth and turn a profit, have ramped up their bets against the ride-hailing giant to $1.5 billion.

"We've seen a surge in borrowing of Uber over the last week," said Samuel Pierson, director of securities finance at IHS Markit, in an email to Business Insider.

See the rest of the story at Business Insider

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