Top of hot stocks: Purplebricks, Revlon and The Great Wall Motor Company
07 November 2018 London
Image: Shutterstock
Purplebricks topped the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa last week.
The online estate agency that operates across the UK, is back this week as short selling begins to tail off and shares dropped some 40 percent since August.
Short interest volume has, however, decreased around 11 percent through October, as utilisation jumped back to over 60 percent, indicating that as short sellers bank their gains, long investors are also moving out of Purplebricks.
Following Purplebricks was TechnipFMC plc (FMC), the oil services company formed by the merger of Technip and FMC.
This week has seen short sellers continue to expand their positions, adding some 16 percent by volume, peaking later in the week, before falling back slightly at the close.
Topping the Americas hot stocks list was Revlon Inc. (REV).
Having made its debut on the hot stocks list last week, REV, a US-based beauty and personal care product company, is back as the top pick this week.
FIS found some short sellers have been quick to cash in, closing out around 13 percent of the open positions this week, letting utilisation slide back to 86 percent.
The activity over the past week has pushed borrowing costs up by almost 30 percent.
FIS said: “Many short sellers remain resolutely in place, in expectation of further falls at REV.”
Topping the Asia-Pacific hot stocks list was The Great Wall Motor Company.
The China-based vehicle manufacturer is back this week as short interest records a 12-month peak, having advanced some 25 percent since its last appearance.
Utilisation has risen more slowly, advancing 17 percent to close last week at 79 percent, another 12-month peak.
The online estate agency that operates across the UK, is back this week as short selling begins to tail off and shares dropped some 40 percent since August.
Short interest volume has, however, decreased around 11 percent through October, as utilisation jumped back to over 60 percent, indicating that as short sellers bank their gains, long investors are also moving out of Purplebricks.
Following Purplebricks was TechnipFMC plc (FMC), the oil services company formed by the merger of Technip and FMC.
This week has seen short sellers continue to expand their positions, adding some 16 percent by volume, peaking later in the week, before falling back slightly at the close.
Topping the Americas hot stocks list was Revlon Inc. (REV).
Having made its debut on the hot stocks list last week, REV, a US-based beauty and personal care product company, is back as the top pick this week.
FIS found some short sellers have been quick to cash in, closing out around 13 percent of the open positions this week, letting utilisation slide back to 86 percent.
The activity over the past week has pushed borrowing costs up by almost 30 percent.
FIS said: “Many short sellers remain resolutely in place, in expectation of further falls at REV.”
Topping the Asia-Pacific hot stocks list was The Great Wall Motor Company.
The China-based vehicle manufacturer is back this week as short interest records a 12-month peak, having advanced some 25 percent since its last appearance.
Utilisation has risen more slowly, advancing 17 percent to close last week at 79 percent, another 12-month peak.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
