1157 days ago
Silver short-squeeze meltup is fading
Some profit-taking happening in silver after it topped $30 per ounce and an 8-year high. Is the short-squeeze done?
1157 days ago
Hedge funds bet that the Canadian silver stocks rally won't last
Hedge funds have raised their bets against Canadian silver mining stocks, while their prices sharply increased due to the massive buys of retail investors. However, they do not believe that they will be able to replicate what happened with the GameStop stock: “The Reddit-fueled trader is learning that the silver market is much bigger than some of the small cap stocks they have been trading,” said Edward Moya, senior market analyst at OANDA. Since Thursday, Toronto-listed First Majestic Silver Corp and Pan American Silver Corp soared 60.5% and 30.7%, respectively. Wheaton Precious Metals, Fortuna Silver Mines and Silvercorp Metals Inc all had double-digit gains over the same time period.
1157 days ago
GE gets some love with BoA price target increase from $13 to $14
BoA Analyst Andrew Obin said investors don’t seem to fully appreciate GE’s multi-year effort to reduce factoring, which was a $3.2 billion outflow in 2020. That process is now coming to an end and Obin said investors can expect working capital levels to begin to normalize. Obin says GE has plenty of financial flexibility in the near-term, and could actually benefit from rising interest rates. Rising rates would help reduce GE’s $25.5 billion in pension liabilities and GE Capital’s $21.3 billion in long-term care liabilities. Source: Bloomberg
1157 days ago
Most shorted stocks of the Russell 3000
These are the top 20 stocks which have the highest short interest as a percentage of float. GameStop is still on top of the list with an astounding 122.97%, still down 20% from its 144.34% all-time high back at the end of 2020. The following stocks are Dillard's, Sumo Logic, American Well Corp., and SunPower. GME remains the only stock to have doubled YTD.
