Top of hot stocks: Obrascon Huarte Lain and Tesla
10 October 2018 London
Image: Shutterstock
Obrascon Huarte Lain (Obrascon) has topped the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa (EMEA) last week.
Last appearing on the hot stocks two months ago, Obrascon, the Spain-based construction and engineering company, is back this week as short interest volume jumped upward.
Over the last two weeks, short interest has grown 66 percent, pushing utilisation up to 88 percent, having been trending downward since mid-July when it had been at the 12-month peak.
Following Obrascon Huarte Lain was FMC, the oil services company formed by the merger of Technip and FMC, last appeared on the hot stocks list one month ago.
Since then, short interest volume has been growing, adding 30 percent over the last month.
FIS found over the same period, despite advancing initially, utilisation remained level, indicating a growth in supply on the market as long investors buy into Technip.
Topping the Americas hot stocks list was Tesla, the American automotive and energy company.
FIS said: 鈥淟ast week saw CEO, Elon Musk, call out short sellers and those lending them assets as unfairly targeting his company, and making unjust profits from doing so.鈥�
鈥淥nce again, the real value of the organization he has built is lost among the tweets and controversy.鈥�
During the last week, the shares jumped over 17 percent, only to close the week down 1 percent.
Short sellers closed out 6 percent of their trades by volume, but utilisation fell three times as fast at 18 percent, ending the week at 67 percent.
Last appearing on the hot stocks two months ago, Obrascon, the Spain-based construction and engineering company, is back this week as short interest volume jumped upward.
Over the last two weeks, short interest has grown 66 percent, pushing utilisation up to 88 percent, having been trending downward since mid-July when it had been at the 12-month peak.
Following Obrascon Huarte Lain was FMC, the oil services company formed by the merger of Technip and FMC, last appeared on the hot stocks list one month ago.
Since then, short interest volume has been growing, adding 30 percent over the last month.
FIS found over the same period, despite advancing initially, utilisation remained level, indicating a growth in supply on the market as long investors buy into Technip.
Topping the Americas hot stocks list was Tesla, the American automotive and energy company.
FIS said: 鈥淟ast week saw CEO, Elon Musk, call out short sellers and those lending them assets as unfairly targeting his company, and making unjust profits from doing so.鈥�
鈥淥nce again, the real value of the organization he has built is lost among the tweets and controversy.鈥�
During the last week, the shares jumped over 17 percent, only to close the week down 1 percent.
Short sellers closed out 6 percent of their trades by volume, but utilisation fell three times as fast at 18 percent, ending the week at 67 percent.
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