Short sellers recoup losses as rally in US stocks loses steam

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Short sellers have recouped losses of more than $25 billion in the last 30 days as the rally in US stocks loses steam. The receding bets of an early interest rate cut by the US Federal Reserve triggered a selloff in the equity market, allowing short sellers to cover a portion of their heavy losses from last year. The benchmark S&P 500 index is down about 5% in April and off by a similar margin from its record high. Overall US & Canadian equity short exposure fell by $50 billion to $1.08 trillion in the last 30 days. Short positions on MicroStrategy and chip stocks were profitable, while short positions on Exxon Mobil, Alphabet, and Amazon.com were least profitable.

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https://finance.yahoo.com/news/short-sellers-recoup-losses-rally-170840588.html