BUZZ-Short sellers targeting major auto stocks, report says

Reuters12-19 23:07
BUZZ-Short sellers targeting major auto stocks, report says

** Large auto companies like Toyota, Volvo, and Porsche are showing a rise in short interest and sell ratings, according to a report by data and analytics company S3partners

** Smaller firms exhibit persistent short positions with minimal shifts in analyst sentiment, the report adds

** In Europe, Volvo VOLVb.ST and Porsche PSHG_p.DE have seen their short positions double YTD

** In Japan, Toyota 7203.T has experienced similar increases in short interest

** "The pattern of analyst sell recommendations mirrors the short sales by investors," - report

** Toyota, Volvo and Porsche have seen an increase in sell recommendations

** In the U.S., four companies are notable for their short positions: Lucid LCID.O, Rivian RIVN.O Winnebago Industries WGO.N and Nio ADR 9866.HK

(Reporting by Aishwarya Jain in Bengaluru)

((Aishwarya.Jain@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment