Hedge Fund Sentiment Turns Sour On Market's Darlings, HazelTree Data Indicates
Portfolio Pulse from AJ Fabino
Hedge funds are taking a bearish stance on some of the hottest sectors, including electric vehicles, luxury brands, and AI tech, according to data from HazelTree. Companies like Tesla, Kering, and Advantest are being heavily shorted. Despite this, the actual percentage of shares being shorted is still relatively low.
August 09, 2023 | 5:23 pm
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NEGATIVE IMPACT
AI tech company Advantest is being heavily shorted by hedge funds. The company recently missed the mark on its quarterly earnings.
The bearish stance of hedge funds on Advantest, coupled with the company's recent miss on its quarterly earnings, could negatively impact the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
LVMH Moet Hennessy Louis Vuitton also had a significant short focus in the EMEA region, according to Bloomberg's report.
The significant short focus on LVMH in the EMEA region could negatively impact the company's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Luxury brand Kering is being heavily shorted by hedge funds. There are signs that its Gucci brand is lagging behind competitors.
The bearish stance of hedge funds on Kering, along with signs of its Gucci brand lagging behind competitors, could negatively impact the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla is being heavily shorted by hedge funds, despite its growth over the years. CEO Elon Musk has flagged concerns over future profitability due to a 'higher for longer' interest rate environment.
The bearish stance of hedge funds on Tesla, coupled with the CEO's concerns over future profitability, could negatively impact the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90