Barclays: Reddit traders have scared away many short sellers following massive squeezes in meme stocks

From Business Insider:

  • Short sellers have shrunk their positions in heavily shorted stocks by 80% since January.
  • Short-seller losses in that period were largely limited to meme stocks over the same period, Barclays said.
  • Traders wagering on meme stocks to fail have been “burned very badly” amid the frenzy, said strategist Matt Maley.

The number of companies for which short interest makes up 30% or more of shares outstanding has plummeted from 43 to just 18. In dollar terms, that means short sellers have shrunk their positions by 80%, from about $25 billion to just $5 billion, the data show.

The full article is available at https://markets.businessinsider.com/news/stocks/reddit-traders-scared-short-sellers-away-amid-meme-stock-squeezes-2021-6-1030509407

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