CNNFN writes article about 11 stocks Wall Street is betting will tank in 2016:
by Matt Egan @mattmegan5 December 24, 2015: 12:26 PM ET
markets negative
There’s a whole cottage industry in Wall Street devoted to betting on which
stocks will be the next to collapse.
Called “short selling,” it’s a strategy that investors use to profit
when a stock goes lower. The trading tactic was featured in the
recently-released film “The Big Short,” starring Brad Pitt. The
movie is based on a book by Michael Lewis about people who bet that a
housing meltdown and financial crisis was coming.
Even though there was no earth-shattering financial crisis this year,
plenty of short sellers made big money by betting against oil and
natural gas stocks like Chesapeake Energy. Other big losers included
Macy’s (M) and Michael Kors (KORS), each down by almost half.
So which stocks are the short sellers circling for next year? Research
firm Markit ranked the most shorted stocks heading into 2016:
1.) GameStop
2015 performance: -16%
Wall Street is all but screaming “game over” when it comes to GameStop
(GME).
The videogame retailer is the most shorted stock on the planet,
according to Markit.
CNNFN Article Source Here.