GrabAGun Heads Into Earnings With Borrow Costs Collapsing

[PEW](/s/us/pew) reports today carrying one striking divergence: short interest is elevated at 6.1% of the free float, yet the cost to borrow has collapsed to near zero — a lending market that is loosening even as shorts hold their ground.

The borrow story is the sharpest signal heading into the print. Cost to borrow tumbled from roughly 2.5%–3.5% through most of April to just 0.25% on May 12…