Largest Oustanding Short Positions indicate more pain for Momentum Stocks (IB)

Interactive Brokers – popular among the ‘smart money’ crowd – released the top 15 outstanding short positions of their customer as of April 17.

Again the Momentum names appear on this list from last week: Tesla, Amazon, Google, Netflix, Yelp… most which have seen some heavy price drops this past week.

A new notable entry on the list:  Coeur d’Alene Mining (NYSE: CDM) :  This stock is 50% off its 52 week high of $17/share and is trading at a new low of $8.43.   When this many short sellers appear on a beaten down stock with negative revenue and no dividend, it’s usually a good sign that the company is cash strapped.

Another notable entry is Google Inc. (NASDAQ:GOOG) – the shorts are selling both A and C class shares alike.  Perhaps the recent stock split was a desperate move to keep the shares afloat in a deflationary advertising budget environment?  The amount of insider selling at Google would seem to indicate as much.

Top 15 Outstanding Short Positions as of 4/17:

https://wit1.interactivebrokers.com/images/insights/1958/losp042114.jpg

 

IB’s posts can be found here.


The content contained in this blog represents the opinions of the authors who may or may not hold long or short positions in securities of various companies discussed in the blog based upon the authors' views. The commentary in this blog in no way constitutes a solicitation of business or investment advice. In fact, it should not be relied solely upon in making investment decisions, ever. It is intended for the entertainment of the reader, and the authors. In particular this blog is not directed for investment purposes at US Persons.
Posted in Public and tagged , , , , , , , , , , , , , , .

Leave a Reply

Your email address will not be published. Required fields are marked *