Tuesday’s Rally Led By Heavily Shorted Stocks
July 8, 2008
Hickey and Walters (Bespoke) submit:
The average stock in the Russell 1,000 was up 2.42% today. We broke the index into deciles (100 stocks in each decile) based on each stock’s short interest as a percentage of float to see how the most and least heavily shorted shares performed today.
As shown below, the decile of the most heavily shorted stocks was up an average of 4.42% today, while the decile of the least heavily shorted shares was up 2.02%. The market definitely saw its fair share of short covering today.
Tuesday’s Rally Led By Heavily Shorted Stocks
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