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Top related persons:
Peter Hillerberg - 4 Dado Ruvic - 2 Ortex - 2 Lewis Krauskopf - 2 Medha Singh - 2 Noel Randewich - 1 Lance Tupper - 1 Richard Chang - 1
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Thomson - 4 REUTERS - 2 Arm Holdings - 2 Vanda Research - 2 Nasdaq - 1 Federal - 1 U.S - 1 ARM - 1

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7 mentions found


☆ Arm dips below IPO price as short sellers circle
  + stars: | 2023-09-21 | by ( Noel Randewich Lewis Krauskopf | Noel Randewich | Lewis Krauskopf | ) www.reuters.com   time to read: +3 min
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 21 (Reuters) - Arm Holdings' stock on Thursday dipped for the first time below its initial public offering price, while short sellers appeared to be betting against the chip designer just a week after its Wall Street debut. Shares of Klaviyo (KVYO.N) which debuted on Wall Street on Wednesday, finished up 2.9% at $33.72 versus the marketing automation firm's $30 IPO price. Suggesting short sellers are betting against Arm, about 14 million of its shares were on loan, equivalent to 8% of the stock's free float, data and analytics company Ortex said. Short sellers borrow stocks to short them, and the relationship between shares on loan and shorted is normally close, according to Ortex. Arm shares appear highly shorted compared to other recent IPOs.
Persons: Dado Ruvic, Ortex, Peter Hillerberg, Noel Randewich, Lewis Krauskopf, Lance Tupper, Richard Chang Organizations: REUTERS, Arm Holdings, Nasdaq, Federal, U.S, Thomson
☆ Arm shares post third daily loss with IPO buzz fizzling, short sellers hovering
  + stars: | 2023-09-19 | by ( Sinéad Carew Lewis Krauskopf | Sinéad Carew | Lewis Krauskopf | ) www.reuters.com   time to read: +4 min
With short sellers looking to profit from the stock, it closed at $55.17 after touching a high of $69 on Friday. Arm shares underperformed the Philadelphia semiconductor index (.SOX), which closed down 0.96% on Tuesday as rising bond yields weighed on growth sectors such as technology. Short sellers need to borrow a stock to short it, and the relationship between shares on loan and shorted is normally quite close, according to Ortex. By comparison, Tesla (TSLA.O), a stock with a similar percentage of shorted shares, has a cost to borrow at 0.48%, Ortex said. Arm's higher cost to borrow "can be an indication that the demand to borrow, and short, the stock is high," Hillerberg said.
Persons: Dado Ruvic, Daniel Morgan, Morgan, Thomas Martin, Ortex, Peter Hillerberg, Hillerberg, Needham, Lewis Krauskopf, Sinéad Carew, Lisa Bernhard, Mark Potter, Matthew Lewis Organizations: REUTERS, Arm Holdings, ARM, Nvidia, GLOBALT Investments, Bernstein, underwriters, Klaviyo Inc, Thomson Locations: Philadelphia, Atlanta, New York
☆ Highly shorted Nikola jumps as retail army scoops up shares after BayoTech deal
  + stars: | 2023-07-14 | by ( ) www.reuters.com   time to read: +2 min
July 14 (Reuters) - Shares of Nikola Corp (NKLA.O) jumped 14% on Friday, a day after a short squeeze sent the electric-truck maker's shares soaring in their busiest trading session on record. The stock surged nearly 61% to a more than four-month high on Thursday after Nikola entered a deal to sell 50 EVs to BayoTech and purchase low-carbon hydrogen from the firm. The short squeeze in Nikola, after short sellers rushed to exit bearish bets due to a rise in the stock's price, led to a record 317 million shares traded on Thursday. For the week, Nikola shares have surged 57%. About 22.7% of Nikola shares were in short position on July 12, according to analytics firm Ortex.
Persons: Nikola Corp, Nikola, Lucas Mantle, Peter Hillerberg, Medha Singh, Shinjini Organizations: Nikola, Vanda Research, Thomson Locations: Bengaluru
☆ Retail traders pile into US stocks; focus shifts to EVs from AI
  + stars: | 2023-07-06 | by ( Medha Singh | ) www.reuters.com   time to read: +2 min
July 6 (Reuters) - Retail traders raised their exposure to U.S. stocks in June encouraged by healthy returns, with their focus shifting to electric-vehicle firms from artificial intelligence stocks earlier in the year. They poured in $1.4 billion per day on average in U.S. equities in the month, closing in the all-time record of $1.5 billion a day in March, Vanda Research said. Record vehicle deliveries by Tesla (TSLA.O), consistently a favorite among the retail crowd, have helped spark small-time investors' interest in EV stocks, including Rivian (RIVN.O), Iachini said. EVs have garnered increased demand on incentives under the Inflation Reduction Act and a competitive pricing environment. In contrast, demand for AI stocks, including C3.ai (AI.N), from retail investors has somewhat slowed from earlier this year after they rallied for weeks, Iachini added.
Persons: Vanda, Marco Iachini, Iachini, EVs, Joby, Peter Hillerberg, Medha Singh, Shinjini Ganguli, David Gregorio Our Organizations: Vanda Research, Thomson Locations: U.S, Bengaluru
☆ AI lending firm Upstart jumps as $2 bln funding news squeezes bears
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: +2 min
May 10 (Reuters) - Shares of highly shorted Upstart Holdings (UPST.O) jumped 32% in premarket trading on Wednesday, squeezing out bearish investors, after the artificial intelligence-driven lending marketplace secured an additional $2 billion in funding. "(The) committed funding agreements are a concrete step towards stabilizing Upstart's business," said James Faucette, analyst at Morgan Stanley, raising its price target on the stock to $13 from $10. At current levels, short sellers stand to lose about $122 million, according to analytics firm Ortex. When there is a rush of demand from short sellers looking to exit bearish bets due to a rise in a stock's price, it pushes prices even higher, resulting in a short squeeze. The company's net loss per share, excluding items, was 47 cents, beating analysts' estimates of 81 cents loss per share, according to Refinitiv.
☆ AI lending firm Upstart jumps as $2 bln funding squeezes bears
  + stars: | 2023-05-10 | by ( Medha Singh | ) www.reuters.com   time to read: +2 min
May 10 (Reuters) - Shares of highly shorted Upstart Holdings (UPST.O) jumped 32% in early trading on Wednesday, squeezing out bearish investors, after the artificial intelligence-driven lending marketplace secured an additional $2 billion in funding. "(The) committed funding agreements are a concrete step towards stabilizing Upstart's business," said James Faucette, analyst at Morgan Stanley, raising its price target on the stock to $13 from $10. At current levels, short sellers stand to lose about $122 million, according to analytics firm Ortex. "With the price in Upstart jumping up over 30%, some short sellers will try to close their positions... adding additional buy pressure on the stock," said Peter Hillerberg, co-founder of Ortex. The company's net loss per share, excluding items, was 47 cents, beating analysts' estimates of 81 cents loss per share, according to Refinitiv.
☆ March's banking chaos gave short sellers their biggest profits since the financial crisis
  + stars: | 2023-04-06 | by ( Elliot Smith | ) www.cnbc.com   time to read: +1 min
NEW YORK, NEW YORK - MARCH 15: Traders work on the floor of the New York Stock Exchange during morning trading on March 15, 2023 in New York City. Short sellers were sitting on more than $7 billion in profit from the mass sell-off of bank shares by the end of March, their largest windfall since the global financial crisis in 2008, according to data firm Ortex. The collapse of Silicon Valley Bank and the emergency rescue of Credit Suisse by domestic rival UBS headlined a chaotic month for the global banking sector. Hedge funds shorting bank stocks were sitting on a total of $7.25 billion in unrealized gains over the course of the month, according to Ortex. "ORTEX data shows that March was the single most profitable month for short sellers in the banking sector since the 2008 financial crash," company co-founder Peter Hillerberg said Thursday.
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