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Best And Worst Short Ideas Of The Week

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Best And Worst Short Ideas Of The Week

Last week was a decent week for short sellers, with the S&P 500 falling 0.3%. Some shorts performed better than others, while some short sellers got burned badly.

S3 Partners analyst Ihor Dusaniwsky said Friday that U.S. equity short sellers profited $12.96 billion overall last week.

Best Shorts

Tesla Inc (NASDAQ: TSLA) was the biggest winner for short sellers last week after the stock dropped 4.4% following a disappointing third-quarter delivery number. Tesla has the highest short interest of any U.S. equity at $9.38 billion, so it’s easy to see how a disappointing week for Tesla could be a big win for short sellers.

Here’s a look at the best shorts from last week, sorted by net profits for the week.

  • Tesla, +$347.8 million.
  • Snap Inc (NYSE: SNAP), +$187.4 million.
  • Wayfair Inc (NYSE: W), +$131.5 million.
  • Exxon Mobil Corporation (NYSE: XOM), +$131.3 million.
  • JPMorgan Chase & Co. (NYSE: JPM), +$128.7 million.
  • Bank of America Corp (NYSE: BAC), +$126.2 million.
  • Simon Property Group Inc (NYSE: SPG), +$105.9 million.
  • Chevron Corporation (NYSE: CVX), +$103.9 million.

Worst Shorts

While short sellers had a great week overall, a handful of shorts got hit hard by stocks that had big pops on the week. Okta Inc (NASDAQ: OKTA) short sellers took a beating, with the stock gaining 17.7% on the week thanks to an upgrade from SunTrust.

Here’s a look at the worst shorts from last week, sorted by net losses for the week.

  • Okta, -$137.2 million.
  • Coupa Software Inc (NASDAQ: COUP), -$130.9 million.
  • Netflix Inc (NASDAQ: NFLX), -$111.7 million.
  • Stars Group Inc (NASDAQ: TSG), -$101.3 million.
  • Charter Communications Inc (NASDAQ: CHTR), -$97.5 million.
  • Mongodb Inc (NASDAQ: MDB), -$97.0 million.
  • NVIDIA Corporation (NASDAQ: NVDA), -$96.9 million.
  • Roku Inc (NASDAQ: ROKU), -$96.1 million.

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Posted-In: Ihor Dusaniwsky S3 PartnersAnalyst Color Long Ideas Short Ideas Top Stories Trading Ideas Best of Benzinga

 

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