Tesla’s ambition drives shorting
27 July 2016 London
Image: Shutterstock
Household names in technology and manufacturing dominated the FIS Astec Analytics Hot Stocks list for the the week beginning 18 July.
For the Americas it was the ever-present automotive and energy company Tesla Motors that once again claimed the top spot for the region.
Tesla’s share price closed the week at $222.27, up $1.87, with short interest down by 10 percent. However, Astec Analytics noted that, as a proportion of the shares available, this number fell half as fast, suggesting that institutional ownership continues to contract.
Japanese videogame company Nintendo easily came first in the Asia Pacific after the reality of its limited connection to the recent craze of Pokémon Go, and its revenue potential, became clear a note to investors.
Initially, the augmented reality game’s launch caused Nintendo shares to soar by 121 percent, from just above a 12-month low of JPY 14,380 (US $139.3) on 6 July to JPY 31,770 (US $301.1) only two weeks later.
Short interest subsequently boomed, jumping 246 percent in the past week and Nintendo share price ended the week down 12.5 percent, according to Astec Analytics.
In Europe, Wirecard remained top of the pile, despite seeing its short interest falling significantly in recent weeks, with a 20 percent drop in the past week alone.
The volume of shares borrowed as a proportion of those available is down from 60 percent to 40 percent.
For the Americas it was the ever-present automotive and energy company Tesla Motors that once again claimed the top spot for the region.
Tesla’s share price closed the week at $222.27, up $1.87, with short interest down by 10 percent. However, Astec Analytics noted that, as a proportion of the shares available, this number fell half as fast, suggesting that institutional ownership continues to contract.
Japanese videogame company Nintendo easily came first in the Asia Pacific after the reality of its limited connection to the recent craze of Pokémon Go, and its revenue potential, became clear a note to investors.
Initially, the augmented reality game’s launch caused Nintendo shares to soar by 121 percent, from just above a 12-month low of JPY 14,380 (US $139.3) on 6 July to JPY 31,770 (US $301.1) only two weeks later.
Short interest subsequently boomed, jumping 246 percent in the past week and Nintendo share price ended the week down 12.5 percent, according to Astec Analytics.
In Europe, Wirecard remained top of the pile, despite seeing its short interest falling significantly in recent weeks, with a 20 percent drop in the past week alone.
The volume of shares borrowed as a proportion of those available is down from 60 percent to 40 percent.
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