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Stocks have been on a red-hot rally since late October, and that has led some hedge funds to doubt the move’s staying power and bet the other way. The S & P 500 has rallied nearly 13% in the past six weeks, with all three major indexes notching new 52-week highs Tuesday. But some hedge funds are doubting that the comeback is for real, having mounted short bets against certain stocks. CNBC Pro screened FactSet data for stocks trading on the New York Stock Exchange and Nasdaq Stock Market with the most short interest as of Nov. 30. The universe was comprised of stocks with at least $100 million in market capitalization where short interest represented at least 25% of their total float, which is the number of shares outstanding that is available to be traded. Short interest notably increased for electric vehicle charging stocks, soaring nearly 55% to 97 million shares for ChargePoint . Short interest also increased 3% and 4%, respectively, for Blink Charging and Plug Power , each to around 30% of the companies’ stock float. Insurance providers Trupanion and Lemonade also saw their short interest rise. Short interest in Trupanion rose 5% to 13 million shares, or around 42% of its float, while short interest in Lemonade gained 3% to 17 million shares, or around 34% of its float. Footwear company Birkenstock , which went public in an October initial public offering, also turned up on the list. Short interest in the German company rose nearly 7% to 6.4 million shares, or about 29% of total float. Here is the list of names that met the criteria on the CNBC screen:
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