Betting against General Electric Co stock has increased in the last week as the ...
FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the company's site of its energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler/File Photo
Short sales, or bets that GE’s stock price will fall, rose 13.5% to $14.3 million in the last week and 20.7% to $20.6 million in the last month, Ihor Dusaniwsky, managing director of predictive analytics at New York-based S3 Partners, told Reuters. S3 Partners uses an algorithm to calculate daily short interest based on market data and insights from $2 trillion in assets the firm has under advisement, Dusaniwsky said.
“When short sellers see something like this they tend to jump in as a pack,” Dusaniwsky said. “We’ve not seen any covering in size.”
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