Fiverr International Ltd. (NYSE: FVRR) is an online marketplace to find individuals providing services such as writing and graphic design. The firm is based in Israel and has a market capitalization of $700M. Fiverr raised $127M via an IPO led by JP Morgan in June 2019. FVRR became a hard-to-borrow with a 50% fee rate after the IPO, dropping to 13% today. While the rate has eased, utilization has not. Short Interest is at 25% of the float and climbing. We are seeing a decently-sized piece from one retail broker counterparty.
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