Nvidia Short Sellers Lose $5 Billion As Shares Rise More Than 90% in 2023

Reuters2023-05-04

NEW YORK, May 3 (Reuters) - Nvidia Corp short sellers have lost $5.09 billion so far this year as the stock has jumped more than 90%, according to financial data firm S3 Partners.

The stock is the No. 1 losing equity short so far in 2023, followed by Apple and Tesla, the firm wrote Wednesday.

Apple short sellers have lost $4.47 billion so far in 2023, it said, while the stock has risen about 30% in that period. Tesla short sellers have lost $3.65 billion for the year to date, it added, as the stock has gained about 33%.

Short interest in Nvidia is down by 7.04 million shares, or 18%, for the year to date. Short interest is currently 1.32% of the float, the lowest level since October 2022, the firm wrote.

Nvidia shares fell 1.5% on Wednesday amid declines in chip makers after a disappointing outlook from Advanced Micro Devices Inc. (AMD) late Tuesday.

Investors who sell securities 'short' borrow shares and then sell them, expecting the stock to fall so they can buy the shares back at the lower price, return them to the lender and pocket the difference.

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Comments

  • MagNet
    2023-05-04
    MagNet
    I wish there was a market with stocks opened for just retail, where traders, institutions, etc would be denied access. There are manipulating these shares, have ample access to respurces to make whatever they want of it, and making sure that uncles and anties loose their money in. Their only motivation for being in the market is to squeeze these people out of their money by manipulating the stocks.
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