Nvidia Short Sellers Lose $826 Mln As Stock Jumps After Strong Forecast
Reuters2023-08-24
Aug 24 (Reuters) - Investors with short position on Nvidia lost $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed, as the world's largest chipmaker's shares surged after a strong revenue forecast.
Bearish bets on the chip designer, which is the biggest beneficiary of AI boom, have cost investors $11.36 billion in paper losses so far this year, neck-to-neck with Tesla as the worst performing short bet, S3 Partners said.
Nvidia shares rose 3.64% to $488.29 in morning trading.
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