Photo: oddomar via flickr
UBS is out with its latest list of the 15 stocks that are shorted by the most clients.The list includes some big blue chips, while other names hot names have fallen off the list.
Several on the list have been perennial frustrations for short sellers. Others are new names. Citigroup makes an appearance on this list.
Note: Stocks identified are from a UBS report. Data on YTD returns and short per cent of float are from Yahoo Finance.
YTD return: +1.38%
Short per cent of float: 46.4%
Jim Chanos thinks solar stocks are a bunch of 'hot air'. He expects First Solar to have negative cash flow in a year, key executives have left the company, and has seen massive insider selling at the company according to The Street. He's also short solar stocks because he expects Eurozone austerity to hurt government subsidies for the solar sector.
YTD return: +17.4%
Short per cent of float: 10.4%
Value investor Whitney Tilson is short on Salesforce.com on account of insider selling, the company reportedly has the second highest level of insider selling in corporate America and on account of the company diluting shareholders according to Gurufocus.com. The company is also expected to lose market share as competition from Microsoft heats up.
YTD return: +187.13%
Short per cent of float: 16.6%
Greenmountain has attracted controversy because of its huge growth, sky-high valuations and allegations of tricky accounting. It also faces increased competition in the single-serve coffee front. Short-sellers however been frustrated because the stock seems to keep climbing.
YTD return: +65.24%
Short per cent of float: 21%
Netflix has hurt short sellers like Whitney Tilson because of its rapid growth and valuation. It does face increased competition from YouTube that has launched its own movie streaming features.
YTD return: -5.9%
Short per cent of float: 11%
Media company Gannett's shares have been volatile and the company has been laying off staff across the country in a bid to cut costs. Revenue growth continues to be a challenge for the company.
YTD return: -14.67%
Short per cent of float: 11.9%
Six months after Advanced Micro Devices pushed out Dirk Meyer, the company has been without a CEO and it still hasn't made much of a mark in the market for mobile chips.
YTD return: -14.41%
Short per cent of float: 6.9%
Jonathan Hoeing a managing member of Capitalist Pig hedge fund is short on General Motors because of drags on the stock. In Smart Money, he argues for his position because the company's car sales haven't been stellar, taxpayers continue to be largest shareholders and the company is subject to political influence, according to.
YTD return: +3.6%
Short per cent of float: 10.4%
Safeway has been struggling with its competition because it isn't as competitively priced as Wal-Mart, in terms of quality it loses to Whole Foods and it faces competition from regional chains, according to Bloomberg.
YTD return: -6.91%
Short per cent of float: 11.1%
Fitch recently downgraded Best Buy because they credited the company's recent rally to the $5 billion share buyback program and on weak same-store sales for two consecutive quarters. In a nutshell they believe the brand is losing market share, according to The Wall Street Journal.
YTD return: +8.33%
Short per cent of float: 18.2%
Garmin Ltd. develops consumer, aviation and marine technologies, including GPS devices. Garmin's stock has taken a hit on account of weak demand in consumer electronics market, especially the portable navigation device market.
YTD return: +41.61%
Short per cent of float: 4.6%
Intuitive Surgical first made waves by taking on the robotic surgery market in the 1990s. Its growth has slowed since, its valuation remains high, and stiffer competition is expected to see the company's sales slip in coming years.
YTD return: +2.72%
Short per cent of float: 15.3%
JC Penny's brand is old and the company's growth has been sluggish. Shares jumped when the company recruited Ron Johnson as its new CEO but progress is expected to be slow. The short interest has increased to 23.01 million shares, according to InvestorPlace.