Big Tech Shorts Gained Over $1.6 Billion in Profits Last Week
Last week’s big meltdown in tech resulted in massive gains for short sellers. ORTEX data shows that bears pocketed $1.63 billion in profits across Apple (Nasdaq: AAPL), Amazon (Nasdaq: AMZN), Alphabet (Nasdaq: GOOGL), Meta (Nasdaq: META), and Microsoft (Nasdaq: MSFT) combined. Of these names, Apple was the only stock that did not decline for the week. Excluding Apple, which led to short losses for the week, bears among the remaining 4 stocks enjoyed $2.55 billion in profits.
Here’s a quick summary of how short sellers in the 5 Big Tech companies that reported last week fared, according to ORTEX Short Interest Data.
|Stock||Last Week’s Gain/(Loss)||YTD|
Year-to-date, the bears among these names are up $19.33 billion thanks to the historical sell-off so far in 2022, with rising interest rates pressuring tech stock valuations more than other sectors. As a leading short interest data provider for retail investors, ORTEX lets you keep an eye on important trends among the bears.