Technology dominates global hot stocks lists
07 September 2016 London
Image: Shutterstock
Technology firms took centre stage in all three regions covered by the FIS Astec Analytics hot stocks list for the week starting 29 October.
In the Americas, Tesla Motors refused to yield its top position once again as the ongoing concern around its merger with SolarCity weighed heavily on its share price performance.
Astec Analytics noted that its shares sunk below $200 again to end the week at $197.78, down from $219.99 the week before—although it remains some way off its 12-month low of $143.67 from February 2015.
Europe saw the return of Logitech International to the top of the ranking for the region after its stock price was downgraded by analysts to ‘hold’ or ‘neutral’ from ‘buy’, following a 61 percent growth over the past 12 months.
In reaction to the share price growth, which was promoted by strong quarterly results, short sellers have reduced their net exposure by 45 percent since July but the tide might be about to turn again.
In the Asia Pacific, Cyberdene put in another appearance as its share price continued to slide down from a 12-month high of CNY 2,600 (US $390.26) at the end of May to a recent low of just over CNY 1,600 (US $240.16) at 26 August.
According to Astec Analytics, Cyberdene’s top position this week is owed to a sudden 12 percent recovery from CNY 1,618 (US $242.9) to close last week at CNY 1,805 (US $270.9).
Short seller are going nowhere though as utilisation of available shares remains around 90 percent.
In the Americas, Tesla Motors refused to yield its top position once again as the ongoing concern around its merger with SolarCity weighed heavily on its share price performance.
Astec Analytics noted that its shares sunk below $200 again to end the week at $197.78, down from $219.99 the week before—although it remains some way off its 12-month low of $143.67 from February 2015.
Europe saw the return of Logitech International to the top of the ranking for the region after its stock price was downgraded by analysts to ‘hold’ or ‘neutral’ from ‘buy’, following a 61 percent growth over the past 12 months.
In reaction to the share price growth, which was promoted by strong quarterly results, short sellers have reduced their net exposure by 45 percent since July but the tide might be about to turn again.
In the Asia Pacific, Cyberdene put in another appearance as its share price continued to slide down from a 12-month high of CNY 2,600 (US $390.26) at the end of May to a recent low of just over CNY 1,600 (US $240.16) at 26 August.
According to Astec Analytics, Cyberdene’s top position this week is owed to a sudden 12 percent recovery from CNY 1,618 (US $242.9) to close last week at CNY 1,805 (US $270.9).
Short seller are going nowhere though as utilisation of available shares remains around 90 percent.
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