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cannot open short on Nikola as it is 'unborrowable stock'


stoz

Question

I tried a few months back, and out of curiosity have tried again recently, to open a short position on Nikola. I simply get the message 'unborrowable stock', and from Googling I see that IG cannot borrow any of the stock, to back up the trade. 

Is this common? I don't understand why such a relatively high profile stock is unavailable to us... Is there a perfectly good reason that IG is unable to obtain the stock? Or something else going on here? 

Much obliged in advance

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    • This is not an acceptable explanation for me unfortunately, I am fully aware of the need to move spreads and I had accounted for that. Especially at the open of a market, but your spread was totally unreasonable the spread on DEC contracts is already at 130pip standard, to increase it to 400pips and hold it there even after 5 mins of trading. As my execution was a 09:06 the main market volatility had already been accounted for.   So disappointing after 6years being a customer and on a profitable trade as well: 
    • Dear @MB1470, Thank you for your post. Please note that dealing spreads on shares are subject to variation, especially in volatile market conditions or other unusual circumstances.  Market spreads can widen significantly, particularly at the beginning and end of the trading day, and minimum spreads may exist. Thanks, KoketsoIG
    • This morning at the market open on NOVO DEC contracts. On Spread Bet.    the spread moved from 138pips to close to 400 pips? How can this be reasonable the candle is only displayed on a 15-2min time period not on smaller periods. At market open 09:00 ????? How is this even remotely reasonable?     
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