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Short sellers have lost more than $13 billion betting against a handful of artificial intelligence stocks this year.
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Shares of Nvidia have soared more than 150% in 2023 and sparked an AI frenzy after its bullish forecast.
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These are the five AI stocks that have caused a world of pain for bearish investors.
The frenzy for stocks with exposure to artificial intelligence have created dizzying gains for investors this year, as well as painful losses for short sellers.
According to data from S3 Partners Research, just five AI-related stocks have sparked more than $13 billion in mark-to-market losses for short sellers this year.
The losses are big when you consider that the short interest as a percentage of share float is in the low single digits for these stocks, meaning that much of the losses were triggered not by so many people being caught on the wrong side of the trade, but instead by such massive rallies in the stock prices.
These are the five AI stocks that have caused more than $13 billion in losses for short sellers this year, according to S3 Partners.
5. Taiwan Semiconductor
Ticker: TSM
Year-to-date gain: 33.7%
Short seller losses: $690.7 million
4. Marvell Technology
Ticker: MRVL
Year-to-date gain: 64.7%
Short seller losses: $723.4 million
3. Broadcom
Ticker: AVGO
Year-to-date gain: 42.4%
Short seller losses: $1.5 billion
2. Advanced Micro Devices
Ticker: AMD
Year-to-date gain: 83.6%
Short seller losses: $2.0 billion
1. Nvidia
Ticker: NVDA
Year-to-date gain: 167.2%
Short seller losses: $8.6 billion
Read the original article on Business Insider
