Satellogic Inc. (SATL) is experiencing a significant decline in its stock price today, primarily driven by a sharp increase in its borrow rate. The latest data indicates that Satellogic's borrow rate has surged to 506.19%, marking an increase of 4.16 percentage points. This substantial rise in the borrow rate suggests heightened short-selling activity, which can exert downward pressure on the stock as investors bet against its future performance.
The stock is currently trading at $3.51, down 9.42% from its previous close of $3.88. It opened at $3.80 and has seen a decline of 7.63% from the open.