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

Carlo 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

NOW WATCH: Tesla has a mini Model S for kids that costs $600, and this family bought it to teach their child about driving electric

See Also:

• An investor overseeing $17 billion explains her uncommon tactics for finding the market's biggest cash cows. Here's how her approach can protect you from a crash.
• MORGAN STANLEY: These 15 large companies are most likely to get acquired within the next 12 months
• US stocks have crushed their European peers by 76% over the past decade. Here's what Goldman Sachs says needs to happen for Europe to flip the script.

SEE ALSO: Traders are waging a nearly $1 billion bet against Lyft and still have lots of 'dry powder' (LYFT)

from Feedburner http://bit.ly/2QwRKr3