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Here's Why Wall Street Is Betting Against Clovis Oncology

·4 min read
Here's Why Wall Street Is Betting Against Clovis Oncology

Betting against biotech stocks is a pretty scary way to make money -- and it's getting a whole lot scarier now that retail investors have learned how to work as a team to create short squeezes. Clovis Oncology (NASDAQ: CLVS), a commercial-stage biotech, has recently become a target among members of Reddit's WallStreetBets community with just that purpose in mind. Clovis Oncology is facing so many challenges right now that nearly 30% of its outstanding shares have been borrowed and sold short in order to bet against the company's success.