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[1/2] A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike SegarMarch 17 (Reuters) - Shares of First Republic Bank (FRC.N) extended losses to 32% in afternoon trading on Friday after being briefly halted as $30 billion in deposits injected by large U.S. banks failed to quell investor worries about the beleaguered lender. First Republic suspended its dividend and disclosed it has $34 billion in cash excluding the new deposit injection. Founded in 1985, First Republic had $212 billion in assets and $176.4 billion in deposits as of the end of last year, according to its annual report. The ratings agency had downgraded its outlook on the U.S. banking system to negative earlier this week.

☆ Short sellers are doubling down on these European banks — and Credit Suisse isn't their top target
▼ + stars: | 2023-03-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Short-sellers are sitting on nearly $2 billion in profit from bets against the European banking sector this month so far. The worries heightened in Europe on Wednesday as Credit Suisse shares fell by 24% — its biggest daily loss. However, data shows that Credit Suisse — Switzerland's second-largest lender — doesn't even make the list of the top five most-shorted European Banks. BNP Paribas remains the biggest target for short-sellers, with $3.1 billion in total wagers expecting shares to fall. The following table shows the European lenders that saw the largest increase in shorts over the past 30 days.

☆ First Republic Bank tumbles, drags down shares of other regional lenders
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

March 16 (Reuters) - First Republic Bank (FRC.N) fell about 30% on Thursday, leading shares of other regional lenders lower, as fears of a banking crisis loomed large. "Short sellers are attacking banks they think are weak, unfortunately First Republic has not done a very good job of pushing back. The regional banking sector has been reeling from the collapse of Silicon Valley Bank on worries that nervous customers may rush to withdraw their deposits, potentially triggering a liquidity crisis. Bloomberg reported on Wednesday that First Republic was weighing options to shore up its liquidity and that larger rivals might show interest in taking over the bank. "So when you're looking at regional banks, this net interest margin situation is much more damning."

REUTERS/Brian Snyder/File PhotoLONDON, March 15 (Reuters) - Investment managers Bridgewater Associates, Millennium Management and Marshall Wace added to short positions on European banking shares after the collapse of Silicon Valley Bank sparked contagion fears across global banks, according to data from Breakout Point. Short sellers had amassed bearish positions worth more than $15.7 billion against European banks by Tuesday, according to S&P Global Market Intelligence. Millennium Management, Citadel, Wellington Management, Capital Fund Management, Odey Asset Management and Marshall Wace declined to comment. Marshall Wace held the largest disclosed number of short positions against banks, public filings from Austria, Italy, Sweden, Britain, Spain and Poland analysed by Breakout Point showed. Its shares were up 18% at 1602 GMT, in a broader European banking index (.SX7P) up 1.4%In the week to Wednesday, some 120 billion euros had been wiped off the value of European bank shares.

Big hedge funds including Marshall Wace and Odey Asset Management added to short positions against Europe's banks, regulatory filings seen by Reuters and data from Breakout Point showed. Marshall Wace held the largest disclosed number of short positions against banks, public filings from Austria, Italy, Sweden, Britain, Spain and Poland analysed by Breakout Point showed. The banks included BAWAG (BAWG.VI), FinecoBank (FBK.MI), Handelsbanken (SHBa.ST), CaixaBank (CABK.MC), NatWest Group (NWG.L) and PKO Bank Polski (PKO.WA). BNP Paribas shares fell by as much as 12% on Wednesday before recovering to show a loss of 9%, while Deutsche Bank shares fell almost 9%. In the week to Wednesday, some 120 billion euros ($126 billion) had been wiped off the value of European bank shares.

☆ 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.

☆ AMC tumbles as shareholders approve plan to convert APE preferreds
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Shares of AMC Entertainment Holdings Inc (AMC.N) tumbled about 17% on Tuesday after shareholders voted in favor of converting the company's preferred stock into common shares. The approval of the measures at Tuesday's shareholder meeting comes as AMC faces an April 27 hearing in a lawsuit claiming it circumvented shareholders who were against adding more shares. The preferred shares, which trade under the symbol "APE," have lost over 70% since they were issued in August as part of a plan to pay down the company's debt. The common stock was down 17.3% at $4.51 following the vote, putting it on track for its worst day in almost two years. The preferred shares were up 6.9% at $1.85.

☆ Quotes: Global banks under pressure as SVB triggers contagion worries
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +8 min

LONDON, March 14 (Reuters) - The health of the global banking sector as interest rates rise remained in the spotlight on Tuesday in the wake of the collapse of Silicon Valley Bank (SVB). But days of wild swings in global markets and hefty losses in bank shares, left the outlook for the sector in focus. Banks are now faced with the classic problem that has threatened banks throughout history: a mismatch in terms between assets and liabilities." Hopefully we'll go over the next few days, whether or not the financial system is going to calm down or not. "It’s been an indiscriminate sell off in banking stocks, the financial sector repriced everywhere.

☆ The winners and losers of the Silicon Valley Bank failure
▼ + stars: | 2023-03-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Silicon Valley Bank was taken over by regulators on Friday. These are the biggest winners, and losers, in the wake of the bank failure. Which brings us to the downfall of Silicon Valley Bank. Here's a rundown of who stands to gain, and lose, the most as a result of the fall of Silicon Valley Bank. Silicon Valley Bank's obituary had barely been written before firms were offering to buy up customers' uninsured deposits for as little as 55 cents on the dollar.

☆ As Silicon Valley Bank comes under pressure, here's a list of the 15 most-shorted banks
▼ + stars: | 2023-03-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +1 min

Investor anxiety over tech-focused SVB Financial 's fund-raising plans sent its shares tumbling Thursday , but short sellers have been targeting several other banks too, data shows. Crypto-focused bank Silvergate Capital was the most shorted stock among regional and national banks as of Feb. 28, according to the latest industry data compiled by FactSet. Earlier this week, shares in the bank fell 36% after the crypto industry lender said it is winding down operations and liquidating its bank. The following table shows the 15 stocks with the highest percentage of shares held short. More than 5% of Silicon Valley Bank's shares, worth $340 million were held short, FactSet data reveals.

☆ Crypto stocks slide after Silvergate decides to shut down
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

The crypto lender's shares slumped 45% to $2.86, a day after hitting a record low and losing 64% since the company flagged a going concern risk on March 1. Shares of Signature Bank (SBNY.O), which uses blockchain technology, fell 9%. Crypto exchange Coinbase Global (COIN.O), which severed ties with the bank last week, dropped 3%. Silvergate's announcement also adds to a list of high-profile collapses of crypto market players since last year. With Silvergate shares down 95% over the past 12 months, and 72% so far this year, shorting has been a profitable trade for bearish investors.

☆ Elon Musk presents Tesla 'Master Plan 3' with emphasis on sustainable energy
▼ + stars: | 2023-03-01 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Electric vehicle maker Tesla laid out its long-term vision at a 2023 Investor Day presentation in Austin, Texas, on Wednesday. CEO Elon Musk took the stage to share his "Master Plan 3," and to discuss how Tesla plans to scale up in the face of increasing competition. Musk said, "Earth can and will move to a sustainable energy economy, and will do so in your lifetime." To start, Musk was joined on stage by Senior Vice President of Powertrain and Energy Engineering at Tesla, Drew Baglino. Tesla shares have rebounded from declines during 2022, and are up more than 60% for the year so far.

☆ Retail investor risk appetite improves with AI stocks leading
▼ + stars: | 2023-02-14 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

Retail investors had a poor year in 2022, with the average portfolio ending the year down around 35% from all-time highs, Vanda Research previously estimated. However, retail investors have shown renewed interest in the early part of 2023. Meanwhile, shares of early meme stocks GameStop (GME.N) and AMC Entertainment (AMC.N) have pared some losses after last year's tumble. "Investor enthusiasm is also attracting short-sellers that are skeptical about some of the resulting valuations," said Evan Niu, an analyst at Ortex, which tracks real-time short interest data. AI software firm Veritone (VERI.O), SoundHound and BigBear.ai also show a pick up in short interest, Ortex data showed.

☆ Traders have lost $7.6 billion betting against Tesla over the past month as the stock has surged
▼ + stars: | 2023-02-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Tesla has crushed short sellers over the past month as the stock soared 70%, according to S3 Partners. Hedge funds betting against Tesla lost $7.6 billion over the past 30 days, making it the least profitable short. Tesla stock has been on a tear so far this year after Musk cut prices and reiterated the company's growth targets. The swift one-month surge in Tesla stock has wiped out about half of the gains short-sellers made last year betting against the company. At the end of December, short-sellers had made a $15 billion profit in 2022, making Tesla the most profitable short of the year.

☆ Wall St Week Ahead Last year's laggards lead U.S. stocks' 2023 rebound, for now
▼ + stars: | 2023-02-11 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

NEW YORK, Feb 10 (Reuters) - U.S. stocks that took a beating last year are surging in the early weeks of 2023, leading markets higher. A range of factors are driving the moves, including the attractiveness of beaten-up shares, a tailwind from falling bond yields and market participants unwinding bearish bets against stocks. “When interest rates fall, lower quality, longer duration assets do well," said Rob Almeida, global investment strategist at MFS Investment Management. That's weighed on stocks in the latest week, which saw the S&P 500 lose 1.1% after two straight weeks of gains. David Kotok, chief investment officer at Cumberland Advisors, is skeptical of the latest rally and some of the stocks leading the current run.

☆ The massive selloff in Adani shares eclipses those of other short-seller targets like Enron and Wirecard
▼ + stars: | 2023-02-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Adani Group companies have lost over $110 billion in market value in the past fortnight. These losses eclipse those at other short seller targets like Enron and Wirecard. Enron lost more than $65 billion between August 2000 and December 2001 when it filed for Chapter 11 bankruptcy, per Bloomberg's record. In Wirecard's case, it was short seller Fraser Perring, who in a 2016 report, accused the payments firm of money laundering and fraud. Shares of Adani Transmission, Adani Green Energy, and Adani Power were also up.

☆ India's stock market crisis isn't just the Adani Group's problem — it's a political issue for Prime Minister Modi too
▼ + stars: | 2023-02-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Indian tycoon Gautam Adani's companies have lost over $110 billion in market value since a US short seller attack in January. Even Modi has been dragged into the kerfuffle — since both he and Adani are from the western Indian state of Gujarat. The prime minister's political opponents say that the leader favors Adani — a claim the Modi government has rejected, per Reuters. "The Hindenburg scandal is the perfect weapon for the Indian political opposition against PM Modi. On its part, the Adani Group has been troubleshooting hard.

☆ A prominent UK cybersecurity stock is under attack from short sellers. Here's what you need to know
▼ + stars: | 2023-02-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Omar Marques | SOPA Images | LightRocket via Getty ImagesCybersecurity company Darktrace , one of the U.K.'s most prominent tech names, has found itself under attack from short sellers. Short selling is a strategy in which investors bet on the price of a stock going down in value. Darktrace, one of the U.K.'s largest cybersecurity companies, was founded in 2013 by a group of former intelligence experts and mathematicians. "This has been, and remains, a very small part of Darktrace's marketing and the costs of them over the last five years has consistently been substantially below 0.5% of Darktrace's revenue," Darktrace added. The Lynch connectionIt's worth noting that, even before the QCM report, there were clouds hanging over Darktrace's business.

It is rare for investors to take short positions in securities of Indian companies. Securities rules in India also make it hard to quietly build short positions. Institutional investors are obliged to disclose their short positions upfront and there are other restrictions and registration requirements on foreign investors. In Adani, for example, Hindenburg held the short positions through U.S.-traded bonds and non-Indian-traded derivatives. China's strict investment rules make it all but impossible to take short positions in domestic-listed Chinese stocks from overseas.

[1/2] Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. On Wednesday, a $2.5 billion sale of shares by one of its companies Adani Enterprises ADEL.NS was called off. Adani Group and the stock market regulator the Securities and Exchange Board of India (SEBI) did not respond to a request for comment. Cracking the code of how Hindenburg did the trade could lead to more short sellers taking positions against Indian companies, which have been rare, analysts said. But several bankers familiar with trading in Indian securities said the more profitable piece of the short seller’s bet would likely lie in the derivative trades it had placed.

☆ Instant View: India's Adani calls off $2.5 bln share sale
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, Feb 1 (Reuters) - India's Adani Enterprises (ADEL.NS) on Wednesday called off its $2.5 billion share sale, citing market conditions, a week after a U.S. short-seller's critical report unleashed a rout in the wider Adani Group's stocks. COMMENTARYDEVEN CHOKSEY, MANAGING DIRECTOR, KR CHOKSEY SHARES AND SECURITIES"In the given situation, when the entire environment has become negative, it is good that the share sale is withdrawn. GURMEET CHADHA, CHIEF INVESTMENT OFFICER AND MANAGEMENT PARTNER OF COMPLETE CIRCLE WEALTH"It was the right thing to do. It must have been a hard decision but it was the right thing to do. To go through this exercise of a share sale and to call it off raises more questions."

The port-to-property group, led by Gautam Adani, one of the world's richest people, has denied the allegations and called them baseless, adding it has always made the necessary regulatory disclosures. "But from an offshore investor's perspective the allegations (made by Hindenburg) ... do not seem to be clearly addressed," he said. The U.S. short-seller has said Adani's "response largely confirmed our findings and ignored our key questions." Australia's corporate regulator said on Wednesday it would review the Hindenburg report as concerns raised also relate to Adani's Australian operations. Adani Enterprises lost nearly 6% on Wednesday to bring its losses since the Hindenburg report to more than $8 billion.

☆ Adani vs Hindenburg: India’s top businessman faces biggest test
▼ + stars: | 2023-01-31 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

So, how did a relatively young and small New York financial research firm manage to bring the Adani juggernaut to a juddering halt? Much of his fortune is tied up in the sprawling Adani Group, which he founded over 30 years ago. This is not the first time analysts have expressed fear that the rapid expansion of Adani businesses comes with huge risk. In its response, Adani Group said that the “leverage ratios” of its companies “continue to be healthy and are in line with the industry benchmarks in the respective sectors. Adani Group “is not going anywhere,” said Rajat Sharma, founder of financial advisory firm Sana Securities.

☆ Carvana spikes 30% to extend massive 2023 gains amid meme-style short squeeze
▼ + stars: | 2023-01-30 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

The company holds the second-highest short interest at 59%, according to MarketWatch. Traders are placing bets that the firm's rally won't last on looming bankruptcy concerns. Short sellers are placing bets that the firm's rally won't last as it faces a slew of financial problems, including looming bankruptcy concerns. Additionally, Carvana stock will likely be sensitive to the Federal Reserve's rate hike announcement later this week. That created a so-called short squeeze in which retail traders target a stock with high short interest.

HONG KONG/MUMBAI, Jan 30 (Reuters Breakingviews) - Gautam Adani’s financing options are narrowing fast. That leaves it dependent on a safety net provided by Indian banks. Those concerns exploded after Hindenburg Research last week declared the Indian group was making extensive use of tax havens and “pulling the largest con in corporate history” – allegations Adani dismissed as “misinformation” and “stale, baseless and discredited”. Lending more to the group would protect the capital that banks already have at risk in projects under construction. Shares of Gautam Adani’s listed companies have lost a combined $48 billion in market capitalisation since Jan. 25.

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