Tuesday , September 29 2020

Short sellers may lift market as they try to protect gains

Bloomberg

It is fair to say that short sellers have won this round. These investors, who typically bet on the price of an equity or asset going down, have made a killing amid the broader selloff that has roiled US financial markets for the past month.
The time has now come to protect those profits before stocks start potentially rebounding. The S&P 500 Index gained nearly 10% on hopes Congress will pass a massive spending plan to help boost an economy that has been brought to an abrupt halt by the global coronavirus pandemic.

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