Investing
Short Sellers Hope Silicon Valley Gets Mauled
Published:
Last Updated:
Short sellers are making large bets that tech shares have reached their high point and are likely to sell off based on data from the NASDAQ and NYSE as of April 30.
Shares short in Microsoft Corp (NASDAQ” MSFT) were up 30% to 70.3 million. The short interest in Nvidia (NASDAQ: NVDA) moved up 17% to 34.2 million. The short interest in Autodesk (NASDAQ: ADSK), former home of Carol Bartz, rose 25%, and shares sold short at her current company Yahoo! (NASDAQ: YHOO) were up 5% to 39.2 million. Shares short in Research-in-Motion (NASDAQ: RIMM) were up 11% to 16 million. Shares sold short in Amazon.com Inc. were up 11% to 12 million. Shares short in Cisco (NASDAQ: CSCO) and Ciena (NASDAQ: CIEN) also rose.
Shares short in consumer-facing companies dropped. The short interest in Verizon Communications (NYSE: VZ) dropped 16% to 46.8 million. Shares sold short in Starwood were down 27% to 15.3 million. The short interest in Macy’s (NYSE: M) 21% to 20.1 million. Shares short in Gannett (NYSE: GCI) were down 17% to 25.6 million The short interest in Time Warner (NYSE: TWX) was down 30% to 15.7 million. Shares short in Sara Lee (NYSE: SLE) fell 22% to 26.1 million. The only really large consumer products company that had a large increase in shares sold short was Ford Motor Company (NYSE: F) — up 11% to 286.5 million.
The largest short interest in any public company was Citigroup’s (NYSE: C), at 482 million, up 16%.
Douglas A. McIntyre
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
