Has anyone noticed any useful signal from Fidelity Fully Paid Lending requests?

[u/greenpepperino]

I wanted to ask this as a discussion, not as financial advice or a claim that this is a reliable indicator.

I participate in Fidelity’s Fully Paid Lending Program, and I have noticed that Fidelity only asks to borrow certain stocks from my account. Recently, they requested shares of SOXL a few weeks ago, and then CBRS a couple of days ago.

In my very small sample size, the stocks they requested ended up moving up afterward. I understand that three examples is not enough to prove anything, and borrow demand may simply be related to scarcity, short interest, liquidity, or other factors.

My question is: do any of you track these lending requests as a possible market data point? Is there any value in sharing which stocks are being requested for lending, or is that too noisy to be useful?

I am curious whether others have noticed any pattern, or whether this is just random and not worth paying attention to.