Core terms
Hard to Borrow (HTB)
HTB is a broker’s hard-to-borrow classification: shares may be scarce or costly to borrow through that broker. It describes current borrow conditions, not a market-wide short-selling prohibition.
What traders should verify
Check available quantity, locate requirements, quote validity and ongoing stock-loan charges with the executing broker. Record the broker and time; other brokers can have different inventory and terms.
Do not conflate
HTB does not always mean unavailable. A locate fee and ongoing borrow charges differ. A locate does not guarantee a fill or remove SSR requirements.