Investors Dive Into Market Head First After Wednesday Firesale
(New York, NY) — Investors are pouring money into Wall Street a day after the markets freefalled for their largest losses since October. The Dow Jones Industrial Average was up over 600 points for a time Thursday as investors looked to buy after stocks took the Wednesday blow. Each of the indexes saw close to or above a one-percent gain on the day. The Dow Jones jumped 301 points to 30-604. The S&P 500 notched 36 to 37-87, and the Nasdaq gained 67 to finish Thursday at 13-337.
Kyle Norris/am Copyright © 2021 TTWN Media Networks Inc.
Short Sellers Have Already Lost 54 Billion Dollars This Year
(New York, NY) — A data analytics company is reporting that short sellers have lost about 54 billion dollars so far this year on the market. Ortex says short sellers have made almost 17 billion so far this year while losing 71 billion dollars for the net loss of about 54 billion. Traders who short stocks are betting that the security price will fall and then borrow stocks to sell, hoping to buy them back at a cheaper price. Short sellers have been ravaged this week as amateur individual investors organizing through Reddit have battled the sellers to make money. While Gamestop has dominated the headlines through the ongoing fight, short sellers have lost only about a billion dollars on the brick-and-mortar video game retailer. The company that has cost the investors the most so far this year is Tesla, who according to Ortex, has lost short sellers almost seven billion dollars since the start of 2021.
Kyle Norris/am Copyright © 2021 TTWN Media Networks Inc.