Stocks That Lots Of People Are Shorting Are Surging Today

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Photo: mango atchar on Flickr

Stocks are off to a nice start this week as the S&P 500 is up around 0.8 per cent at lunchtime in the United States.Once again, some of the market’s most heavily-shorted stocks are leading indices higher with big gains to the upside:

  • Moody’s (MCO) is up 2.2. per cent.
  • Seagate Technology (STX) is up 2.0 per cent.
  • Ford Motor (F) is up 1.9 per cent.
  • M&T Bank Corp (MTB) is up 1.8 per cent.
  • Intuitive Surgical (ISRG) is up 1.6 per cent.
  • Range Resources (RRC) is also up 1.6 per cent.

Stocks in almost every sector are catching a bid today. Telecommunications is the only group down on the day. It’s fallen less than 0.1 per cent so far. Meanwhile, financials and consumer services stocks are leading the rally, up 1.6 per cent and 1.2 per cent, respectively.

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