S3 Partners reports that Nvidia Corp (NVDA.O) short sellers have lost $5.09 billion this year while the stock has risen over 90%.
The company is the worst equities short in 2023, followed by Apple (AAPL.O) and Tesla (TSLA.O), the brokerage reported Wednesday.
It estimated Apple short traders lost $4.47 billion in 2023 while the stock rose 30%. As the stock has gained 33%, Tesla short sellers have lost $3.65 billion this year, it added.
Nvidia’s short interest fell 7.04 million shares, or 18%, year-to-date. In addition, the business reported short interest at 1.32%, the lowest since October 2022.
After AMD’s poor forecast late Tuesday, Nvidia shares fell 1.1% by noon Wednesday.
Short sellers borrow shares, sell them, then purchase them back at a reduced price, return them to the lender, and pocket the difference.
