FIS hot stocks - 18 April
29 April 2016 London
Image: Shutterstock
Hot stock favourites Logitech International, Tesla and Sembcorp took the top spots for Europe, the Middle East and Africa (EMEA), the Americas and Asia respectively in FIS Astec Analytics’s hot stocks list for the week starting 18 April.
In EMEA, borrow volumes for Swiss-based technology producer Logitech have grown by more than 50 percent in the past six weeks.
Short sellers position building comes after the Securities and Exchange Commission’s (SEC) accused the company of “wrongdoing, including misleading auditors and the overstating of the company’s performance back as far as 2011”, according to Astec Analytics.
This in turn has caused performance figures for 2014 to be restated.
Despite being under the fierce glare of the SEC and national auditors, Astec’s data shows that Logitech’s share price has only dropped $0.31 in the past week and remains within $1.25 of a 12-month high of $17 seen in March.
However, as Astec notes, the bad news is still coming in for the tech firm and the building borrow volume implies that short sellers are confident further price falls are round the corner.
To the west, in the Americas, Tesla has enjoyed widespread media attention following the release of its new car design, which received a largely positive reception.
Following the announcement the car manufacturer's share price dutifully rose to a peak of $265.42 on 6 April, before falling slightly to $253.74 last week.
The change in fortunes has led short interest to drop consistently, including a further 11 percent drop last week.
With share prices showing no sign of going into reverse gear again any time soon, short sellers appear to be accepting loses and getting out while they can.
In Asia, Sembcorp, the Singapore-based ship builder and offshore engineer has reclaimed the top spot despite short interest falling 23 percent over the past week.
Share price jumped 14 percent in the week of the 11 April, which briefly reignited short sellers interest this quickly died away as overall consistency meant a lack of opportunity for shorting.
In EMEA, borrow volumes for Swiss-based technology producer Logitech have grown by more than 50 percent in the past six weeks.
Short sellers position building comes after the Securities and Exchange Commission’s (SEC) accused the company of “wrongdoing, including misleading auditors and the overstating of the company’s performance back as far as 2011”, according to Astec Analytics.
This in turn has caused performance figures for 2014 to be restated.
Despite being under the fierce glare of the SEC and national auditors, Astec’s data shows that Logitech’s share price has only dropped $0.31 in the past week and remains within $1.25 of a 12-month high of $17 seen in March.
However, as Astec notes, the bad news is still coming in for the tech firm and the building borrow volume implies that short sellers are confident further price falls are round the corner.
To the west, in the Americas, Tesla has enjoyed widespread media attention following the release of its new car design, which received a largely positive reception.
Following the announcement the car manufacturer's share price dutifully rose to a peak of $265.42 on 6 April, before falling slightly to $253.74 last week.
The change in fortunes has led short interest to drop consistently, including a further 11 percent drop last week.
With share prices showing no sign of going into reverse gear again any time soon, short sellers appear to be accepting loses and getting out while they can.
In Asia, Sembcorp, the Singapore-based ship builder and offshore engineer has reclaimed the top spot despite short interest falling 23 percent over the past week.
Share price jumped 14 percent in the week of the 11 April, which briefly reignited short sellers interest this quickly died away as overall consistency meant a lack of opportunity for shorting.
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