October has been a rough month for short sellers betting against companies at th...
FILE PHOTO: A pharmacist holds prescription painkiller Hydrocodine Bitartrate and Acetaminopohen, 7.5mg/325mg pills, made by Mallinckrodt at a local pharmacy, in Provo, Utah, U.S., April 25, 2017. REUTERS/George Frey
The data from S3 analyzed changes in short interest and profits related to shares of eight companies named in U.S. opioid litigation. In October, short sellers registered $324 million in mark-to-market losses from those shares. But for the year, they have still gained $593 million in mark-to-market profits.
Of those companies, only Johnson & Johnson’s shares have yielded mark-to-market profits for short sellers so far this month. The news of steps towards a broader settlement boosted Teva’s U.S.-listed shares, which rose 8.7% on Monday.
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