Investing
Shorts Tear Into Tech With a Vengeance (CSCO)(DELL)(NVDA)(MSFT)(ADBE)(ORCL)(QCOM)(BRCM)(NOK)(HPQ)(TXN)(EMC)(JPM)(C)(BAC)(WFC)(GM)(F)(M)(JWN)(HD)(LTD)(WAG)
Published:
Last Updated:
Short sellers placed large bets against the stock of tech companies for the period ending on January 15, taking a series of positions to gamble that firms like Microsoft (MSFT) and Cisco (CSCO) would be the next sector hit hard by selling.
Shares short in Microsoft rose 18% to 92.4 million. Share sold short in Cisco were up 17% to 61.3 million. The short interest in Dell (DELL) rose 15% to 60.1 million. Shares sold short in Nvidia (NVDA) were up 67% to 43 million.
Shares short in Adobe (ADBE) rose 63% to 12.4 million. The short position in Oracle (ORCL) was up 10% to 49.6 million. Share sold short in Qualcomm (QCOM) rose 12% to 41.8 million, and shares short in competitor Broadcom (BRCM) were up 22% to 23.3 million.
Among tech companies traded on the NYSE, shares short in Nokia (NOK) rose 74% to 38.3 million. The Short interest in Hewlett-Packard (HPQ) rose 29% to 37.2 million. Shares sold short in Texas Instrument (TXN) were up 22% to 39.6 million. The short interest in EMC (EMC) was up 15% to 63.4 million.
Short interest in most big banks was relatively stable. Shares short in Citigroup (C) moved up only 9% to 167.8 million. Shares short in Wells Fargo (WFC) were down 12% to 125.9 million. The short interest in JPMorgan (JPM) was off 3% to 66 million. Shares short in Bank of America (BAC) fell 16% to 96.1 million.
There was no major change in the short interest in the two big car companies. Shares short in GM (GM) were down 10% to 97.3 million. The short interest in Ford (F) rose less than 1% to 270.5 million.
Short sellers increased bets on major retailers. Shares short in Macy’s (M) were up 15% to 36.4 million. Shares short in Nordstrom (JWN) were up 26% to 27.4 million. Shares sold short in Home Depot (HD) rose by 10% to 65.1 million. The short position in Limited Brands (LTD) rose 32% to 16.3 million. Shares sold short in Walgreen (WAG) were up 16% to 27.1 million.
Douglas A. McIntyre
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.