Toyota becomes Asia's most shorted large-cap stock - Hazeltree
Reuters
Published Mar 12, 2024 10:02
Updated Mar 12, 2024 11:58
MILAN (Reuters) - Automaker Toyota Motor Corp became the most shorted large-cap stock by hedge funds in the Asia Pacific region in February, overtaking Takeda Pharmaceutical, a report from treasury management and securities finance platform Hazeltree showed on Tuesday.
A short trade is a bet on a company's stock price falling.
U.S. electric carmaker Tesla (NASDAQ:TSLA) remained the most shorted stock in the Americas, while luxury group LVMH was No.1 in the Europe, Middle East and Africa (EMEA) region for the sixth consecutive month, according to the report covering 15,000 stocks on data from around 700 funds.
Several newcomers joined the ranks of top large-cap shorts in the Americas, including AI server maker Super Micro Computer, media group Comcast Corp (NASDAQ:CMCSA), and banks Capital One Financial Corp (NYSE:COF) and Wells Fargo (NYSE:WFC), the report said.
Turning to mid-caps, train maker Alstom (EPA:ALSO) and chipmaker Wolfspeed Inc remained the most shorted securities in EMEA and the Americas, respectively, it said. In the Asia Pacific, electronics company Ibiden Co Ltd was the top mid-cap short in February, overtaking computer maker Daifuku Co, it added.
(This story has been corrected to fix the description of Hazeltree in paragraph 1)
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Written By: Reuters
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