Stock Shorts Collapse as No Hedge Fund Wants ‘Head Ripped Off’
- Bearish bets are falling while discretionary longs are rising
- ‘There’s just mass euphoria’: says Alpha Theory Advisors’ Dunn
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Wall Street bears battered by the Reddit crowd earlier this year have yet to regain their gumption, even with stocks at records and valuations near two-decade highs.
The median short interest in members of the S&P 500 sits at just 1.6% of market value, near a 17-year low, according to Goldman Sachs Group Inc. In Europe, a short-covering frenzy has sent bearish bets collapsing like never before in Morgan Stanley data.