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Investing

Short Interest Shows Gamble Against Tech

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By Douglas A. McIntyre Published

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Many tech stocks have doubled or tripled from the March market lows. Short sellers are in many cases willing to bet that ride is not over.

The short interest in Micron (MU) rose 75 million shares to 63.3 million. Shares short in Intel (INTC) were up 3.1 million to 53.4 million. The short interest in Applied Materials (AMAT) was up 3 million to 37.1 million. Shares short in Marvel (MRVL) were higher by 2.7 million to 13.3 million. Shares sold short in Palm (PALM), Dell (DELL), Oracle (ORCL), and Qualcomm (QCOM) also rose.

The short interest in big financial firms mostly fell. Citigroup (C) shares short dropped 5% to 523 million. The short interest in Bank of America (BAC) was down 11% to 93 million. The short interest in Freddie Mac (FRE) dropped 2% to 57.3 million. The short interest in Regions Financial was down as was the short interest in Bank of Canada, US Bancorp, and Banco Santander.

Data from NYSE and NASDAQ.

Douglas A. McIntyre

Contact [email protected] for any questions or corrections.

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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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