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Investors Short Selling CN Concept Stocks Suffering USD3.2B Book Loss: S3 Partners
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Following a series of economic stimulus policies unrolled by mainland China, the Chinese stock market has bounced back impressively, according to a recent report by S3 Partners. Short selling of Chinese concept stocks listed in the US has subsided. The approximately USD3.7 billion in gains from short selling Chinese concept stocks YTD has all wiped out, and there is currently a book loss of approximately USD3.2 billion. The stocks that have suffered the greatest losses from short selling are Alibaba (BABA.US) and JD.com (JD.US), data showed. Investors who shorted Nio (NIO.US), Li Auto (LI.US), Xpeng (XPEV.US) and Pinduoduo (PDD.US) are still profitable. S3 predicted that if the stock market continues to rise, there will be a large-scale short covering, which will further shore up stock prices. AAStocks Financial News |
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