LONDON (Reuters) – Investors are estimated to have made billions of dollars from their bearish bets on Tesla and major technology stocks in the recent vending triggered by a jump in U.S. Treasury yields, data from the analytics firm showed. financial management on Tuesday.
Tesla was the short sellers’ biggest win, giving them an estimated profit of $ 4.2 billion so far in 2021, followed by gains of more than $ 1 billion each at Zoom Video and Apple, according to Ortex .
However, they were burned when betting against the video game maker Gamestop. The company, which was at the center of the so-called “stonks” retail trade craze, has jumped another 400% in the past two weeks, with amateur investors coming back.
GameStop’s e-commerce strategy plans have been seen to boost this week’s renewed gains from January’s meme stocks, along with speculation that retail investors will use their stimulus checks to trade.
In other major bets, investors made about $ 1 billion selling the QQQ, an ETF that tracks the performance of the Nasdaq 100. The heavy technology benchmark hit correction territory on Monday, dropping more than 10% compared to to high records.
Reporting by Thyagaraju Adinarayan; edition by Sujata Rao