Last week was a decent week for short sellers, with the S&P 500 falling 0.3%. Some shorts performed better than others, while some short sellers got burned badly.
S3 Partners analyst Ihor Dusaniwsky said Friday that U.S. equity short sellers profited $12.96 billion overall last week.
Tesla Inc (NASDAQ: TSLA) was the biggest winner for short sellers last week after the stock dropped 4.4% following a disappointing third-quarter delivery number. Tesla has the highest short interest of any U.S. equity at $9.38 billion, so it’s easy to see how a disappointing week for Tesla could be a big win for short sellers.
Here’s a look at the best shorts from last week, sorted by net profits for the week.
- Tesla, +$347.8 million.
- Snap Inc (NYSE: SNAP), +$187.4 million.
- Wayfair Inc (NYSE: W), +$131.5 million.
- Exxon Mobil Corporation (NYSE: XOM), +$131.3 million.
- JPMorgan Chase & Co. (NYSE: JPM), +$128.7 million.
- Bank of America Corp (NYSE: BAC), +$126.2 million.
- Simon Property Group Inc (NYSE: SPG), +$105.9 million.
- Chevron Corporation (NYSE: CVX), +$103.9 million.
While short sellers had a great week overall, a handful of shorts got hit hard by stocks that had big pops on the week. Okta Inc (NASDAQ: OKTA) short sellers took a beating, with the stock gaining 17.7% on the week thanks to an upgrade from SunTrust.
Here’s a look at the worst shorts from last week, sorted by net losses for the week.
- Okta, -$137.2 million.
- Coupa Software Inc (NASDAQ: COUP), -$130.9 million.
- Netflix Inc (NASDAQ: NFLX), -$111.7 million.
- Stars Group Inc (NASDAQ: TSG), -$101.3 million.
- Charter Communications Inc (NASDAQ: CHTR), -$97.5 million.
- Mongodb Inc (NASDAQ: MDB), -$97.0 million.
- NVIDIA Corporation (NASDAQ: NVDA), -$96.9 million.
- Roku Inc (NASDAQ: ROKU), -$96.1 million.
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