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Uber short-sellers made $270 million in just 2 days as the stock plunged to record lows (UBER)

Uber short-sellers made $270 million in just 2 days as the stock plunged to record lows (UBER)
Spencer Platt/Getty Images



Uber short-sellers recorded $270 million in mark-to-market profits in two days, according to data from IHS Markit.




The returns were driven by Uber falling to record lows after it reported disappointing third-quarter earnings and its post-IPO lockup expired.




Uber shorts have been slowly adding to their positions since August, according to Sam Pierson, IHS Markit's director of finance securities.




Watch Uber trade live on Markets Insider.




Uber short-sellers are seeing solid returns as the stock falls to record lows.
Traders who have bet against the ride-hailing giant recorded $270 million in mark-to-market profits in two days, which is about 43% of their year-to-date returns of $640 million, according to data from IHS Markit.
Here's the breakdown. On Tuesday, short-sellers netted $200 million when Uber shares fell 9.85% to a record low after the company reported disappointing earnings results. On Wednesday, short-sellers logged an additional $70 million in early trading when Uber's post-initial public offering lockup period expired, sending shares down as much as 8.7%.
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