The $855 billion of U.S. equity shorts that we follow were overall profitable this week making $6.21 billion in net-of-financing mark-to-market profits, for a weekly return of +0.73%. PG & E Corp (PCG) shorts were the most profitable in dollar terms, up $136 million for the week, as power outages and wildfires slammed its stock price. Cannabis stocks also underperformed this week with Aurora Cannabis (ACB) and Canopy Growth (CGC) in the top twenty-five.
On a percentage basis G1 Therapeutics (GTHX) tops the list after they cut 3rd quarter revenue guidance, SmileDirectClub (SDC) hits new post IPO lows, and cannabis stocks fell on regulatory uncertainty and lower than expected 4th quarter guidance\expectations.
The most profitable U.S. traded stocks in net-of-financing mark-to-market P\L % (minimum short interest $50 mm):
Teslaâ€™s (TSLA) stock price rallied this past week, slamming shorts with almost half a $ billion in mark-to-market losses even as its Smart Summon feature draws criticism. Netflix Inc (NFLX) rallied ahead of its earnings release next Tuesday and fellow FAANG, Apple Inc (AAPL), is nearing record highs as its Apple TV launch is just weeks away. Bed Bath & Beyondâ€™s (BBBY) stock price woke up from a one-month nap with the hiring of ex-Target and Nordstrom Mark Tritton as tis news CEO.
The least profitable U.S. traded stocks in net-of-financing mark-to-market P\L (minimum short interest $50 mm):
On a percentage basis, Ra Pharmaceuticals (RARX) stock price spiked on its $2.5 billion purchase by UCB and Pfizerâ€™s licensing deal with Akcea Therapeutics (AKCA) generated more than a 30% rise in its stock price on Monday. The RealReal (REAL) continued its rally that started in September, offsetting some of its post-IPO losses, as both Credit Suisse and Wells Fargo stated that the consignment\resale retail sector was on the upswing.
The least profitable U.S. traded stocks in net-of-financing mark-to-market P\L % (minimum short interest $50 mm):
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