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On Nasdaq Peak Holiday, Shorts Exit Tech And Junk Stocks

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By Douglas A. McIntyre Updated Published
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On the tenth anniversary of the tech bubble of 2000, short sellers aggressively dropped their bets against hardware, software and internet companies. Figures are from February 28.

The short interest in Apple (AAPL) fell 15% to 17.3 million. Shares short in Microsoft (MSFT) were down 5% to 53 million. The short interest in Amazon (AMZN) fell 10% to 10.4 million. Shares short in Micron (MU) were down 17% to 51.5 million. Shares short in Cisco (CSCO) dropped 8% to 48.1 million. The short interest in Symantec (SYMC) dropped 14% to 23.9 million. Shares short in RF Micro (RFMD) dropped 14% to 20.7 million shares.

Short sellers moved out of weak stocks, a sign that investors expect a rebound at the bottom of the market. Shares short in Xerox (XRX) fell 53% to 15.1 million. Shares short in Alcatel-Lucent (ALU) was down 40% to 23.3 million. The short interest in Blockbuster (BBI) was down 38% to 17.3 million. Shares sold short in Pulte Homes (PHM) dropped 12% to 33.3 million. Shares short in Eastman Kodak (EK) was off by 8% to 53.6 million. The short interest in Motorola (MOT) were down 7% to 52 million

Among widely held shares, the short interest in Citigroup (C) was up 8% to 482 million. Shares short in Ford (F) rose 6% to 177 million. The short interest in Exxon Mobil (XOM) was up 3% to 85 million and shares short in Nokia were flat at 79 million.

Data from NYSE and NASDAQ.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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