Short sellers Down $5.5Bn On US Positions In November

Short sellers Down $5.5Bn On US Positions In November
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The latest analysis from Ortex Analytics which finds that short sellers have lost $5.5bn on US positions in November so far.

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  • Biden victory and prospect of a Covid-19 vaccine sent global stock markets soaring on 9th November
  • Analysis by Ortex Analytics suggests many short sellers were caught out by the rapid change in investor sentiment; cumulatively US short positions have lost $5.5bn since 1st Nov 2020
  • Travel and tourism companies lead losses, but technology positions return profit as market reflects growing confidence about an end to the pandemic

US Short Positions Have So Far Lost $5.5bn

London, 11th November 2020 - US short positions have so far lost $5.5bn in November as global stock markets respond to the US election result and the prospect of a Covid-19 vaccine, according to the latest data from Ortex Analytics.

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Analysis found that travel and tourism stocks led losses for short sellers as investors became increasingly confident that an end to the pandemic may be in sight.

Top 10 largest losses for short sellers (Nov 1st – Nov 9th)

Company Short Profit
Carnival Corporation & Plc -$520,645,038
Expedia Group, Inc. -$382,521,909
Booking Holdings Inc. -$345,380,994
Royal Caribbean Group -$320,378,441
Visa Inc. -$316,980,481
American Airlines Group Inc. -$274,828,946
Wynn Resorts, Limited -$253,785,998
Norwegian Cruise Line Holdings Ltd. -$251,891,345
The Boeing Company -$242,611,684
The Walt Disney Company -$236,193,825

However, stock that have performed well so far during lockdown offers some respite for short sellers as their values dropped:

Top 10 largest profits for short sellers (Nov 1st – Nov 9th)

Company Short Profit
Zoom Video Communications, Inc. $999,668,166
Wayfair Inc. $936,782,953
Tesla, Inc. $460,179,958
Teladoc Health, Inc. $457,657,390
Sea Limited $449,411,262
Alibaba Group Holding Limited $448,493,764, Inc. $420,741,075
Netflix, Inc. $416,490,778
Peloton Interactive, Inc. $375,821,804
Square, Inc. $364,371,882

Investor Confidence Rises On The News Of A Biden Victory

Commenting on the data, Peter Hillerberg, co-founder of Ortex Analytics, said: “Investor confidence improved dramatically following news of a Biden victory and the prospect of a Covid-19 vaccine. This rapid swing in sentiment has caught many short sellers off guard, leading to significant losses so far in November. However, these losses would have been far worse had it not been for pockets of profit, for example among tech stocks.

“What will be interesting is to see what happens next. Do short sellers hold tight and hope the market rights itself following he exuberance of the past few days, or do we see a fundamental reassessment of short and medium term outlooks and a change in positioning as a result. In any case, short sellers have an uphill battle to recoup this month’s losses.”

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Jacob Wolinsky is the founder of, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at) - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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