Top of the hot stocks: Debenhams, Tilray and Cyberdyne
09 January 2019 London
Image: Shutterstock
Debenhams, the UK-based high street department store chain, topped the FIS Astec Analytics hot stocks list for Europe, the Middle East and Africa last week.
A year ago, shares in Debenhams were trading above £0.30 but were trading as low as £0.03 on Christmas Eve.
FIS noted that short sellers have been very active in the retail space for some time. Volume has advanced a net 5 percent over the past three weeks, but utilisation grew by 13 percent to close the week at 72 percent.
According to FIS, this indicates that some large institutional funds were selling out of Debenhams, even at these low prices.
The most active short was Rallye, the France-based distributor of foods and equipment. The last three weeks have seen short sellers close out around 3 percent of their open positions, pushing utilisation down by around the same level.
Topping the Americas hot stocks list was Tilray, the Canada-based provider of cannabis products to the pharmaceutical industry.
Last week saw the shares close at $69.95, down from 67 percent from the peak, but still over 310 percent up from the initial public offering.
Following this was the most active short, Sirius XM Holdings, the US-based subscription-driven satellite television channel provider.
The past three weeks have seen short interest volume increase by 3 percent, yet utilisation has fallen by 1 percent, suggesting a small increase in market supply.
Topping the Asia-Pacific hot stocks was Cyberdyne, the Japan-based medical robotics company, which has endured a torrid year, according to FIS.
Almost 12 months ago, the shares were trading at over ¥2,000. They closed last week at ¥465, recording a net loss of some 77 percent for those long of the shares.
Short sellers and long investors closed their positions from November forwards. Short interest volume shrank some 36 percent, but utilisation fell much more slowly at around 14 percent, dipping as low as 55 percent, indicating a sharp drop in market supply.
Selling continued through December, resulting in utilisation rising once more, closing last week at over 84 percent, despite there being no rise in short interest volume over the same period.
Meanwhile, the most active short for the Asia Pacific was Takeda Pharmaceuticals, the Japan-based pharmaceutical, which saw aggressive short selling over the last three weeks.
Short interest volume grew by 32 percent in the last three weeks alone, pushing utilisation up much more slowly, rising 6 percent to close last week at 89 percent.
Of this FIS said that this indicates an increase in market supply. The rising demand forced borrowing costs to rise by 110 percent over the last three weeks, reflecting the growing levels of negative sentiment in Takeda.
A year ago, shares in Debenhams were trading above £0.30 but were trading as low as £0.03 on Christmas Eve.
FIS noted that short sellers have been very active in the retail space for some time. Volume has advanced a net 5 percent over the past three weeks, but utilisation grew by 13 percent to close the week at 72 percent.
According to FIS, this indicates that some large institutional funds were selling out of Debenhams, even at these low prices.
The most active short was Rallye, the France-based distributor of foods and equipment. The last three weeks have seen short sellers close out around 3 percent of their open positions, pushing utilisation down by around the same level.
Topping the Americas hot stocks list was Tilray, the Canada-based provider of cannabis products to the pharmaceutical industry.
Last week saw the shares close at $69.95, down from 67 percent from the peak, but still over 310 percent up from the initial public offering.
Following this was the most active short, Sirius XM Holdings, the US-based subscription-driven satellite television channel provider.
The past three weeks have seen short interest volume increase by 3 percent, yet utilisation has fallen by 1 percent, suggesting a small increase in market supply.
Topping the Asia-Pacific hot stocks was Cyberdyne, the Japan-based medical robotics company, which has endured a torrid year, according to FIS.
Almost 12 months ago, the shares were trading at over ¥2,000. They closed last week at ¥465, recording a net loss of some 77 percent for those long of the shares.
Short sellers and long investors closed their positions from November forwards. Short interest volume shrank some 36 percent, but utilisation fell much more slowly at around 14 percent, dipping as low as 55 percent, indicating a sharp drop in market supply.
Selling continued through December, resulting in utilisation rising once more, closing last week at over 84 percent, despite there being no rise in short interest volume over the same period.
Meanwhile, the most active short for the Asia Pacific was Takeda Pharmaceuticals, the Japan-based pharmaceutical, which saw aggressive short selling over the last three weeks.
Short interest volume grew by 32 percent in the last three weeks alone, pushing utilisation up much more slowly, rising 6 percent to close last week at 89 percent.
Of this FIS said that this indicates an increase in market supply. The rising demand forced borrowing costs to rise by 110 percent over the last three weeks, reflecting the growing levels of negative sentiment in Takeda.
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