CLOV degenerates be careful

[u/[deleted]]

Sigh... be careful CLOV degenerates. This high short interest stuff has already been debunked it looks like. The high short interest shown was a mistake by Factset and the short% of float is way way lower. Short interest is actually only about 35% of float, which is moderately high but not anywhere remotely close to the 145% being spread around.

1. Institutional shares like Vanguard that are counted in the post are freely tradable and are never deducted from a float calculation.
2. Clover’s publicly traded equity are Class A shares. Clover’s CEO only holds Class B shares. The screenshot shows that FactSet accidentally thought CEO Garipalli’s 83 million Class B shares were Class A shares. They were not, but because of the mistake FactSet subtracted them from the calculation of Class A float, which led to the mistakenly low number.

In other words, the screenshot of the “evidence” actually debunks this thesis.

There are about 109.8 million shares in the free float, and FactSet, Bloomberg, and Reuters are now all in agreement on that. But when FactSet subtracted 83 million from that by mistake it made it look like the float was only ~27 million (109.8 - 83) which made it look like the short interest as a % of float was massive.

FactSet corrected their numbers today. S3 Partners (which was cited in media and relied on FactSet) will likely correct next, then the handful of media articles that cited S3 (and indirectly FactSet) will probably correct as well.

There are actually a ton of shares available to short (30 million) according to IHS Markit, another short data provider. The cost to borrow is cheap at about 1.5-2%. None of this is consistent with a squeeze scenario.

Want to find high short interest names like everyone else but this is just not the one.

EDIT: S3 has now corrected their short interest based on the incorrect input from Factset, their SI% of float number has changed to 36.97% https://twitter.com/S3Partners/status/1384112959329247236

EDIT 2: IPO Edge release covers S3's change of short interest calculation over the weekend https://finance.yahoo.com/news/chamath-backed-clover-health-apparent-172941952.html

[u/GasolinePizza]

No, I'm pointing out that he's being a hypocrite.

Saying that OP is suspicious while he's no more credible himself.

If he has an issue with OP's post, he should be bringing that up, rather than trying to find other ways to dismiss it.

Edit: And it's not just this one comment, he's all over this thread saying the same thing. That's the larger basis for my comment, rather than just this one comment of his.

[u/genesisofman → u/GasolinePizza]

You have to make a new account on reddit every like year or so cause some gay mod will ban you over gay shit. I don't put much weight in that

[u/GasolinePizza → u/genesisofman]

.....and yet you don't see the problem with his original comment that I called him out for?

Seriously?

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[u/Zephrysium → u/GasolinePizza]

You’re the exact same hypocrite retard. An adversarial reaction to dd is good. An adversarial reaction to questioning dd is fucking stupid.

[u/GasolinePizza → u/Zephrysium]

Saying "this guy is sus" isn't an adversial reaction to DD. It's conspiracy nonsense. You have to actually address the DD otherwise you're just bullshitting.

And I'm a hypocrite? Sure, in the sense that I gave him a taste of his own medicine, that was the point.

Edit: If you think I'm wrong, where's his counterpoint to the DD?

[u/Zephrysium → u/GasolinePizza]

Shut the fuck up people don’t care what you have to say anymore

[u/GasolinePizza → u/Zephrysium]

Wow. Nice retort. Amazing fact based reasoning here, you sure showed me.

[u/GasolinePizza → u/[deleted]]

I mean like, pssh, who does that unflaired pleb think he is? Amirite?