Sunedison Is Arguably The Most Expensive Stock To Short On The Market

Every week, FIS' Astec Analytics provides its clients with intra-day short-selling market data. The firm's top pick from a securities lending perspective this week was Sunedison Inc SUNE, which was reported to be close to filing for bankruptcy protection late last week.

As the likeliness of bankruptcy increases for SunEdison, a company that is said to be the largest in the renewable energy field - globally, “borrow fees are now showing in triple figures,” Astec’s report explicated. This has made it one of the most expensive, if not the most expensive, rated borrow on the market right now.

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With shares now worth less than $0.50, annual fees surpassing 100 percent are more manageable. However, the remaining upside is, as one might figure, highly restricted, Astec’s analysts continued.

As of the end of last week, the shares were trading down more than 98 percent, compared to their price 12 months ago, and even lower when compared to their high of $32 seen last June. “Short sellers will have made a significant profit from such a catastrophic fall, but this is of little consequence to those long of the stock,” the report concluded.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above