Short sellers of shares in Target, the US retailer, suffered paper losses of almost half a billion dollars after the company’s better than expected sales and profit numbers sent the stock soaring to a record high. Short bets against the retailer’s shares rose significantly over the past week ahead of the company’s latest earnings report, repeating a pattern that has emerged in the past several quarters, according to IHS Markit data. Short selling involves borrowing shares in a company from an existing owner in order to sell the stock in anticipation it will fall.
Short sellers of shares in Target, the US retailer, suffered paper losses of almost half a billion dollars after the company’s better than expected sales and profit numbers sent the stock soaring to a record high. Short bets against the retailer’s shares rose significantly over the past week ahead of the company’s latest earnings report, repeating a pattern that has emerged in the past several quarters, according to IHS Markit data. Short selling involves borrowing shares in a company from an existing owner in order to sell the stock in anticipation it will fall.
Click here to read the full article (£)
