Investing
Short Data Shows How Bad Bank Investors Were Bloodied
Published:
Last Updated:
Based on the rise in the short interest in banks at mid-month, it is clear how badly investors betting bank stocks would go down were mauled.
As of March 15, shares short in AIG (AIG) were up 17% to 183 million. The short interest in Bank of America was up 54% to 172 million. Shares short in Wells Fargo (WFC) moved up 35% to 156 million.
Astonishingly, the short interest in Citigroup (C) rose 391% in the two weeks between the end of February to mid-March, hitting 998 million shares. Short sellers covering those positions would have accounted for a significant portion of the rise in Citi’s stock price.
Shorts moved out of car stocks, assuming that there will be some kind of bailout. Short interest in Ford (F) fell 16% to 245 million. Shares short in GM (GM) were off 7% to 110 million.
In the tech sector, short sellers are still assuming that sales of both hardware and software will get worse. The short interest in Microsoft (MSFT) rose 17% to 101 million. Shares short in Cisco (CSCO) were up 21% to 69 million. The short interest in Applied Material (AMAT) was up 33% to 51 million. Shares short in Dell (DELL) moved up 40% to 44 million. Shares short in Broadcom (BRCM), Qualcomm (QCOM), and Juniper (JNPR).
Data from NYSE and NASDAQ.
Douglas A. McIntyre
Retirement planning doesn’t have to feel overwhelming. The key is finding professional guidance—and we’ve made it easier than ever for you to connect with the right financial advisor for your unique needs.
Here’s how it works:
1️ Answer a Few Simple Questions
Tell us a bit about your goals and preferences—it only takes a few minutes!
2️ Get Your Top Advisor Matches
This tool matches you with qualified advisors who specialize in helping people like you achieve financial success.
3️ Choose Your Best Fit
Review their profiles, schedule an introductory meeting, and select the advisor who feels right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.