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☆ From Wall Street to Chicago, why stock exchanges ring bells
▼ + stars: | 2024-03-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +9 min

New York CNN —The New York Stock Exchange opens every workday morning at 9:30 am ET with the fast-paced bang-clang of a gleaming brass bell. The stock exchange, the largest in the world by market capitalization, has opened with sonic fanfare for more than 150 years. From Wall Street to the Nasdaq Exchange in Times Square to the Chicago Board Options Exchange, loud, ringing bells bookend each trading session. Stock exchanges say that the bell ringing remains both a critical guide and a ceremony that celebrates the market’s resilience through devastating lows and exuberant highs. The stock exchange had been closed since two hijacked commercial airliners were deliberately crashed into the World Trade Center's twin towers on September 11.

Persons: there’s, ”, Peter Asch, Reagan, Ronald Reagan, Serena Williams, Nelson Mandela, Richard Grasso, Henny Ray Abrams, David Howson, Scott Olson, Howson, Mark McCooey, Morgan Stanley, ” McCooey, Karen Snow, Brendan McDermid, Barbie, Barbie ”, “, Chris Hondros, Trudi Wagner, Wagner, Ronald Moser, Wagner That’s, Goldman Sachs, ” Wagner Organizations: New, New York CNN, The New York Stock Exchange, Nasdaq Exchange, Exchange, New York Stock Exchange, Jersey Shore, NYSE, Former South African, Getty, Cboe, yanks, Nasdaq, Microsoft, UN, United Nations, Bell, Warner Bros, Warner Bros ., World Trade Center, Trade Center, United, New York Stock, Trade, Dow Jones Locations: New York, Chicago, Jersey, Asch, AFP, York, Chicago , Illinois, New York City, America, United States, New Jersey, Manhattan, Charleston , South Carolina

☆ Hedge funds are betting big against these stocks and it's working
▼ + stars: | 2024-03-13 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The latest short interest data reveals several stocks that are down both month to date and since the start of the new year. CNBC Pro screened FactSet data for stocks trading on the New York Stock Exchange and Nasdaq Exchange with the most short interest as of Feb. 29. Here are the names of these heavily shorted stocks: EV-related stocks and auto stocks are an ongoing target of hedge funds — and they're not performing well this year. There is also a significant amount of short interest, roughly 33%, in both Luminar Technologies , which makes technology for self-driving cars, and used car retailer Carvana . Short interest in the stock grew a whopping 44.9% during the latter half of February.

Persons: they're, TD Cowen, Jefferies, —, Nick Wells Organizations: Dow Jones Industrial, CNBC, New York Stock Exchange, Nasdaq Exchange, Lucid, EV, ChargePoint Holdings, Luminar Technologies, Sunnova Energy

As the market continued to soar this month, hedge funds are betting against a handful of health-care and auto stocks. CNBC Pro used FactSet data to look for stocks trading on the New York Stock Exchange and Nasdaq Exchange with the most short interest as of Feb. 15. Here are the names of these heavily shorted stocks: Some health-care stocks saw a sizable increase in short interest. Biomea Fusion saw short interest increase by about 19% to 11.8 million shares, or about 43% of float. Children's Place saw short interest increase by more than 200% during the first half of February.

Organizations: Nasdaq, Dow Jones, CNBC, New York Stock Exchange, Nasdaq Exchange, Biomea, Traders, Children's, Mithaq Capital, Lucid Locations: Children's, Saudi

☆ These are the stocks hedge funds are betting the most against with S&P 500 at this lofty level
▼ + stars: | 2024-02-13 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

There is a significant amount of short interest in B. Riley Financial at 62.8% of the stock's float, or 10.4 million shares as of Jan. 31. Fisker has seen short interest continue for several weeks now. During the latter half of January, short interest remained flat but still amounted to 53.5% of the company's stock float. Short interest accounts for nearly a third of Blink Charging's total stock float. Shares of SunPower have fallen 25% this year, while Plug Power has lost more than 8%.

Persons: SunPower Organizations: Dow Jones, Nasdaq, CNBC Pro, New York Stock Exchange, Nasdaq Exchange, Riley, Street, Franchise, Riley Financial, Fisker, EV

☆ Tesla stock drops as investors scrutinize board’s close personal ties to Elon Musk
▼ + stars: | 2024-02-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Ehrenpreis is also a close friend to Kimbal Musk, Elon’s brother, who is also a Tesla board member. In another instance, the judge emphasized the role of Tesla’s general counsel Todd Maron — who was previously Musk’s divorce lawyer — in advising Tesla’s board and compensation committee. Maron was “totally beholden to Musk,” McCormick wrote in her ruling last week, adding that Maron’s admiration for Musk “moved him to tears” during both his deposition and in trial testimony. Maron’s team prepared “an aggressive timeline for approving a compensation plan,” McCormick wrote in her more than 200-page ruling. The break-neck speed of the process “reflected a reckless approach to a fiduciary process.”Robyn Denholm, the Tesla board chair, doesn’t appear to have had any personal relationship with Musk outside of her service on the board, McCormick wrote.

Persons: New York CNN — Tesla, Elon Musk’s, Judge Kathaleen McCormick, Musk, Ira Ehrenpreis, Kimbal, Ehrenpreis, Antonio Gracias, McCormick, Tesla’s, Todd Maron —, —, Maron, “, ” McCormick, Musk “, Maron’s, Robyn Denholm, Denholm, can’t, ” Tesla, Tesla, Monday’s selloff, Piper Sandler, Gordon Johnson, ” Johnson, Elon, ” Organizations: New, New York CNN, Elon, The, Gracias, Nasdaq, GLJ, CNN Locations: New York, Delaware, Spain, Kimbal’s

FRANKFURT, Germany (AP) — The Dutch parent of pioneering Russian tech company Yandex is selling its operations in the country at a steeply discounted price of just over $5 billion to its Russia-based managers and oil company Lukoil, one of the biggest deals for Western-held companies to exit Russia since the invasion of Ukraine. He subsequently condemned Russia's invasion as “barbaric.” The Nasdaq exchange suspended trading in Yandex shares days after the invasion. After the sale, Yandex NV would be left with its international businesses — employing 1,300 people — including self-driving technology and generative artificial intelligence as well as a data center in Finland. Yandex NV Chairman John Boynton said the company had faced “exceptional challenges” since the start of the war. None of the purchasers have been sanctioned, Yandex NV said, and the cash part of the transaction would be conducted in Chinese yuan outside of Russia.

Persons: Vladimir Putin's, Arkady Volozh, Dmitry Peskov, ”, —, Alexander Chachava, Pavel Prass, Alexander Ryazanov, John Boynton, Boynton, McDonald’s, France’s Renault, Baltika Organizations: Western, Nasdaq, Yandex, Google, Yahoo, European Union, Companies, Baltika Breweries, Danone Locations: FRANKFURT, Germany, Russian, Russia, Ukraine, Moscow, Netherlands, Israel, Finland, Avtovaz, Western

Even as the market rallies, the latest short interest data reveals several stocks that could see losses. CNBC Pro screened FactSet data for stocks trading on the New York Stock Exchange and Nasdaq Exchange with the most short interest as of Jan. 12. Lucid Group , another EV maker, saw short interest increase to about 29% of its float. Companies that make auto parts, including Luminar Technologies and Atmus Filtration , also saw short interest increase. Short interest increased 3% and 8% for thrift store chain Savers Value Village and department store Kohl's , respectively.

Persons: Fisker, That's, VinFast, Goldman Sachs, Nick Wells Organizations: Nasdaq, CNBC, New York Stock Exchange, Nasdaq Exchange, Lucid Group, Traders, EV, VinFast, Companies, Luminar Technologies, Dyne Therapeutics, Enliven, Allogene Therapeutics

While the stock market raced toward record highs in late 2023, some hedge funds mounted bets against a myriad of names. Against this backdrop, CNBC Pro screened FactSet data for stocks trading on the New York Stock Exchange and Nasdaq Exchange with the most short interest as of Dec. 15. Lucid Group , another EV maker, also saw a notable short interest increase, to about 27% of its float. Short interest also increased for used car retailer Carvana , climbing more than 7% to 35 million shares, or about 37% of its float. Companies that have continued to see notable short interest since November include plant-based meat producer Beyond Meat and solar energy companies Sunnova Energy and SunPower .

Organizations: CNBC Pro, New York Stock Exchange, Nasdaq Exchange, Lucid Group, Sunnova Energy Locations: U.S, Austria

☆ Why we see a way forward for Nvidia in China — plus our take on 2 other stocks in the news
▼ + stars: | 2023-12-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Meanwhile, Jim Cramer's interview with an influential member of President Joe Biden's cabinet proved encouraging for Club holding Nvidia . It's been a two-session roller-coaster ride that illustrates the importance of staying disciplined and not chasing stocks while they're surging for non-fundamental reasons. Traders were trying to front-run the official announcement, pushing Linde stock up 4.53% Tuesday, to an all-time high of $426.72 per share. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Nvidia CEO Jen-Hsun Huang at the Consumer Elctronics Show (CES) in Las Vegas, USA, 04 January 2017.

Persons: Linde, Jim Cramer's, Joe Biden's, It's, Pfizer's, drugmaker Seagen, there's, Gina Raimondo, Jim, Biden, Raimondo, " Raimondo, Cigna, Humana's, —, Humana, Aetna's, Jim Cramer, Jen, Hsun Huang, Huang, Andrej Sokolow Organizations: Club, Nvidia, LIN, Linde, Nasdaq, Traders, . Commerce, U.S, Bank of America, Wall Street Journal, Humana, CNBC, Consumer, Audi, Getty Locations: China, U.S, Wall, Las Vegas, USA

☆ Russian recruiter Headhunter offers shareholders buyback after Nasdaq delisting
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: 1 min

A job seeker walks past a sign of the Headhunter recruitment site at a local job fair in the southern city of Stavropol, Russia October 25, 2017. REUTERS/Eduard Korniyenko/File Photo Acquire Licensing RightsMOSCOW, Nov 1 (Reuters) - Russian recruiting agency Headhunter said it had offered holders of its ordinary shares and American Depositary Shares (ADSs) held outside Russia's depository infrastructure the chance to sell back their holdings or exchange them for newly issued shares. Headhunter was previously listed on the U.S. Nasdaq exchange, but its shares were suspended soon after Moscow despatched troops to Ukraine in February 2022, and subsequently delisted. Reporting by Reuters; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

Persons: Eduard Korniyenko, Headhunter, Kevin Liffey Organizations: REUTERS, Rights, U.S, Nasdaq, Reuters, Thomson Locations: Stavropol, Russia, Moscow, Ukraine

☆ Top Wall Street analysts say these stocks have the best growth prospects
▼ + stars: | 2023-09-15 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Here are five such stocks chosen by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. Further, the company continues to invest in AI and sees huge growth potential for its AI-powered features. The analyst noted that the company achieved strong growth in new products under its Identity, Cloud, and LogScale Security Information and Event Management (SIEM) offerings. Nevertheless, he feels that this pullback has created an attractive opportunity to buy CMG stock based on multiple positive catalysts that could emerge in the months ahead. Tarantino reaffirmed a buy rating on CMG stock with a price target of $2,400.

Persons: Wall, TD Cowen, Shaul Eyal, Zscaler, Eyal, Needham, Alex Henderson, Henderson, TipRanks, Baird, David Tarantino, Tarantino, LULU, Robert Drbul, Lulu, Drbul Organizations: Nasdaq, Investments, CrowdStrike, Security, Management, Charlotte, Microsoft, Grill, Lululemon Athletic, Guggenheim, Acushnet Locations: cybersecurity, Mexican, North America, China, Greater China

☆ SoftBank’s reduced Arm price tag is still too high
▼ + stars: | 2023-09-05 | by ( Liam Proud | ) www.reuters.com time to read: +7 min

The lesson for SoftBank and Arm is clear: chip investors are laser-focused on medium-term operating profit, not just revenue. Reuters GraphicsThere are three key moving parts to Arm’s valuation. Under SoftBank, Arm’s operating margin has dropped to around 25%, from roughly 40% in 2015 – a consequence of Son’s preference for heavy investments in research. If Arm nabbed the same multiple, its enterprise value would be $33 billion, using the above growth and operating margin. To mimic and sustain Nvidia-esque growth, Arm CEO Rene Haas would have to keep ramping up investments in engineers and sales teams, which would weigh on margins.

Persons: SoftBank, Masayoshi Son, Bernstein, they’ll, Rene Haas, SoftBank’s, it’s, George Hay, Katrina Hamlin, Oliver Taslic Organizations: Reuters, SoftBank, Nvidia, Cadence Design Systems, LSEG, Reuters Graphics, Apple, Devices, Vision Fund, Nasdaq, Thomson Locations: Cambridge, Saudi Arabia

☆ Arm is headed for a $52 billion IPO that's set to draw tech titans like Apple and Nvidia. Here's what to know about the biggest US stock debut of the year.
▼ + stars: | 2023-09-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Softbank Group-owned chip designer Arm is targeting a $52 billion IPO in September. The launch is set to draw big investment from tech giants like Apple, Nvidia, Samsung, and Google. The debut is expected to be the largest of 2023, and it could mark a turning point for the sluggish IPO market. A revival of IPOsIt's possible that the blockbuster stock launch marks a turning point for what's been a relatively muted IPO market since 2022. Arm could help pave the way for other tech firms and startups who's plans for an IPO have stalled through the downturn.

Persons: Softbank, Goldman Sachs, JPMorgan Chase, what's, Rob Wotczak, Masayoshi, Instacart, Wotczak Organizations: Softbank, Apple, Nvidia, Samsung, Google, Service, New York Stock Exchange, Wall Street Journal, Fund, Nasdaq, Intel, TSMC, Devices, underwriters, Arm's, Barclays, JPMorgan, Mizuho Financial Group, Bloomberg, Freedom Capital Markets, Vision Locations: Wall, Silicon, London, New York, Saudi

BEIJING, Sept 4 (Reuters) - Kweichow Moutai (600519.SS) and coffee brand Luckin Coffee (LC0Ay.MU) on Monday launched in China a latte advertised as containing the fiery Chinese spirit baijiu, as the Chinese luxury liquor maker aims to pull in younger consumers. The companies said the latte alcohol content was lower than 0.5% of its volume. By Monday afternoon in Beijing and Shanghai, Luckin's app showed that the drink had sold out at several stores. "Moutai and Luckin are the leading enterprises in the domestic liquor and coffee sectors, respectively," Zhu said. ($1 = 7.2640 Chinese yuan)Reporting by Sophie Yu and Brenda Goh; Editing by Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Moutai, Kweichow Moutai, Zhu Danpeng, Zhu, Luckin, Sophie Yu, Brenda Goh, Gerry Doyle Organizations: Monday, Weibo, Luckin, Nasdaq, Thomson Locations: BEIJING, China, China's, Guizhou, Beijing, Shanghai

☆ Arm’s changing business model is wildcard for IPO
▼ + stars: | 2023-08-24 | by ( Karen Kwok | ) www.reuters.com time to read: +5 min

The other is royalty revenue, which is linked to how many products containing Arm technology that a customer eventually sells. Rather than selling licenses for specific chip designs and hoping the royalty revenue eventually flows, it is offering so-called total access agreements. First, Amazon’s engineers are more likely to experiment with Arm’s intellectual property and therefore use it in the future, eventually boosting royalty revenue. The company’s revenue fell 1% to $2.7 billion in the financial year to March 31. In the most recent quarter, which ended on June 30, Arm’s revenue fell by more than 2% year-on-year to $675 million.

Persons: Dado Ruvic, Rene Haas, Haas, lumpy, Liam Proud, Oliver Taslic Organizations: REUTERS, Reuters, SoftBank, Apple, Samsung Electronics, Nvidia, Microsoft, Infineon Technologies, U.S, Nasdaq, Thomson Locations: British

☆ Arm’s IPO risks shine brighter than its potential
▼ + stars: | 2023-08-22 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Arm’s revenue is still dominated by its mainstay smartphone business, which contributed to the recent growth slowdown. Nor is Arm’s revenue particularly easy to forecast. In the most recent quarter, which ended on June 30, Arm’s revenue fell by more than 2% year-on-year to $675 million. Arm’s owner, SoftBank Group, was previously planning to sell between $8 billion and $10 billion of shares. SoftBank will have the right to appoint seven out of eight directors to Arm’s board after the IPO, provided its shareholding remains above 70%.

Persons: SoftBank Group's, That’s, Masayoshi Son, hasn’t, SoftBank, Liam Proud, Streisand Neto Organizations: Reuters, Nvidia, Reuters Graphics Reuters, U.S, Nasdaq, SoftBank, Thomson Locations: China, British

☆ Arm IPO depends on more than Big Tech support
▼ + stars: | 2023-08-14 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/IllustrationLONDON, Aug 14 (Reuters Breakingviews) - Arm is phoning Big Tech friends for help with its initial public offering. Backing from some of the world’s largest technology companies would also provide a useful marketing boost. Investments from big tech companies risk scrutiny from antitrust regulators, who previously blocked chip specialist Nvidia from buying Arm. Reuters Graphics Reuters GraphicsArm and its owner, Japan’s SoftBank Group (9984.T), will therefore need to win over big institutional investors. That’s well below the $60 billion to $70 billion that Bloomberg recently reported Arm is aiming for.

Persons: Dado Ruvic, Rene Haas, Taiwan’s TSMC, Japan’s, Bernstein, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, Big Tech, Nvidia, Apple, Google, Microsoft, Investments, U.S . Federal Trade Commission, Reuters Graphics, Cadence Design Systems, Bloomberg, Reuters Graphics Reuters, Intel, Samsung Electronics, Japan’s SoftBank, Nasdaq, Thomson Locations: U.S, ASML, Cambridge

☆ Wall Street heavyweights mixed ahead of Nasdaq 100 rebalance
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

July 21 (Reuters) - Shares of Wall Street's most valuable companies were mixed on Friday ahead of a rebalance of the Nasdaq 100 index (.NDX) to address the benchmark's "overconcentration." Before trading begins on Monday, exchange operator Nasdaq (NDAQ.O) will trim the weight of a handful of companies that make up close to half of the Nasdaq 100. Broadcom (AVGO.O), which will likely see its weight increase in the Nasdaq 100 following the rebalance, rose 1.6%. That has helped the Nasdaq 100 surge 42% in 2023, compared to a 25% increase in the Nasdaq 100 Equal Weighted Index (.NDXE). The Nasdaq 100 was near flat on Friday.

Persons: Goldman Sachs, Noel Randewich, Chris Reese Organizations: Nasdaq, Nvidia, Apple, Broadcom, Microsoft, Thomson Locations: U.S

☆ Market heavyweights dip ahead of Nasdaq 100 rebalance
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

July 10 (Reuters) - Shares of Apple (AAPL.O), Microsoft (MSFT.O) and other heavyweight companies dipped on Monday after Nasdaq Inc (NDAQ.O) said it would rebalance its Nasdaq 100 index (.NDX) to address the benchmark's "overconcentration." Alphabet (GOOGL.O) and Amazon (AMZN.O) fell over 2%, while Microsoft and Tesla (TSLA.O) each slid more than 1%. Wall Street's most valuable stocks declined after Nasdaq said late on Friday it would carry out a "Special Rebalance" of the index to "address overconcentration in the index by redistributing the weights." The Nasdaq 100 includes 100 of the largest companies that trade on the Nasdaq exchange, and changes to the index will force investment funds that track it to adjust their portfolios and sell shares of companies that have their weight in the index reduced. Wall Street's most valuable companies have been among the biggest winners in the U.S. stock market's recovery this year, further increasing their weight in the Nasdaq 100, and also in the Nasdaq Composite (.IXIC) and S&P 500 (.SPX).

Persons: Tesla, Noel Randewich, Richard Chang Organizations: Apple, Microsoft, Nasdaq Inc, Tesla, Nasdaq, Nvidia, Thomson Locations: U.S

☆ Astra plans a reverse stock split, seeks to raise up to $65 million in offering
▼ + stars: | 2023-07-10 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Spacecraft engine manufacturer and small rocket builder Astra plans to conduct a reverse stock split at a 1 to 15 ratio, the company disclosed in a securities filing Monday. Astra also seeks to raise up to $65 million through an "at the market" offering of common stock, the filing said. Astra's filing said the reverse stock split is expected to take place on or before October 2, after its board approved the plan July 6. The company previously outlined a reverse split as part of its plan to avoid delisting by the Nasdaq exchange. Functionally, a reverse split, often done as a 1 for 10, would mean a $3 stock, for example, would become $30 a share.

Organizations: Astra, Nasdaq

☆ What the Fed Rate ‘Pause’ Means for Your Money
▼ + stars: | 2023-06-14 | by ( Steve Garmhausen | ) www.wsj.com time to read: +6 min

By Steve GarmhausenFor months consumers have watched interest rates steadily climb. “This is the Fed just kind of waiting and seeing,” says investment adviser Brian Frank, in Key Biscayne, Fla.What does the Fed ‘pause’ mean? While no one knows where interest rates are headed, here is how to prepare yourself for three basic scenarios. If the Fed pulls away the football, stock prices could retreat. In that case, folks with higher mortgage rates can eventually refinance.

Persons: Steve Garmhausen, ”, Brian Frank, you’ve, Jon Foster, “, can’t, Frank, you’ll Organizations: Federal Reserve, Fed, won’t, Nasdaq Locations: Key Biscayne, Fla, Los Angeles

☆ Luckin Coffee — the Starbucks of China — is punishing staff for getting drink orders wrong by making them copy down lines of customer complaints: report
▼ + stars: | 2023-05-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Luckin Coffee is punishing staff by making them copy lines of customer complaints, Jiupai News reported. A Luckin customer service rep told the outlet the punishment aimed to encourage staff to read customers' notes. Punishing adults with copying lines is humiliating," read another response to the post. Luckin Coffee did not immediately respond to Insider's request for comment. A Luckin customer service staff told Jiupai News in April that it often receives customer complaints about wrong orders and the punishment was being administered so that staff does not forget to read customers' notes.

☆ Shipping Giant Maersk Drops Deep Sea Mining Investment
▼ + stars: | 2023-05-03 | by ( Yusuf Khan | ) www.wsj.com time to read: +4 min

Shipping company A.P. Moller-Maersk is selling its stake in deep-sea mining firm The Metals Company, even as the legal process to allow seabed mining approaches its final stages. The shipping company held more than 9% of TMC in 2021, according to data from FactSet and has been an investor in the company since 2017. TMC is one of the biggest proponents of deep-sea mining and is the most active company within the space, being the first to complete pilot testing. TMC and other deep-sea mining firms have come under fire over worries that the practice will harm the seabed environment.

☆ Russia's Ozon reports 55% jump in 2022 revenue
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, April 6 (Reuters) - Russian online retailer Ozon (OZON.O) on Thursday said its 2022 revenue jumped 55% to 277.1 billion roubles ($3.4 billion) but costs related to a major fire a fulfilment centre pushed it to a larger annual loss. Ozon's gross merchandise value (GMV) - the total value of goods and services sold by the platform - jumped 86% to 832.2 billion roubles ($10.30 billion), the unaudited financial results showed. Losses rose 2% to 58.2 billion roubles. For the fourth quarter of 2022, Ozon's GMV was up 67% at 296 billion roubles and losses shrank by 46% to 11.2 billion roubles compared to the same period of 2021, Ozon said. Revenue was up 41% year-on-year during the three months to 93.6 billion roubles.

☆ Short sellers may pocket $2.3 bln from U.S. bank rout over last three days -S3 Partners
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

March 15 (Reuters) - Short sellers may have raked in $2.29 billion in profit in the past three sessions, as they took advantage of a selloff in regional bank shares following the collapse of SVB Financial Group (SIVB.O) and Signature Bank (SBNY.O), S3 Partners said. SVB Financial and Signature Bank are among the top five most profitable shorts among regional banks this year, the research firm said in a client note. Short sellers have pocketed $3.53 billion so far in March on a mark-to-market basis, according to S3. "SIVB and SBNY short sellers are sitting on massive mark-to-market profits but have no way to realize those profits at the moment," S3 Managing Director Ihor Dusaniwsky said. Short sellers profit from stock declines by borrowing shares of companies that they believe are overvalued, selling them, and then buying them back at a lower price later.

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