Ortex: short sellers reaped $848mn betting against First Republic

US stocks faced an incredibly choppy month, with markets thrown upside down following the collapse of Silicon Valley Bank and Signature Bank.

The stock that generated the most profit for the bears in March was First Republic Bank. The bank’s shares plunged 89% in March amid concerns that the San Francisco-based lender could fall victim to the same forces that caused Silicon Valley Bank and Signature Bank to collapse, only to be saved by a lifeline from 11 of the largest banks in the US who deposited $30 billion into their smaller peer.

Short-sellers reaped $848 million in gains from betting against First Republic Bank, the most profitable short trade in March.


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