The Back-to-Normal Index estimates the percentage of the economy in the United States that has returned to normal. At the start of this week, the index was 94 percent, down from 93 percent the previous week. The shift is due to supply chain difficulties and labor shortages. This is the slowest expansion in over a year and a half. Stocks connected with corporations suffering near-term challenges have been a hot commodity for some hedge funds. A short interest ratio of greater than 20%, on the other hand, is considered extremely high because it implies widespread negative feeling about the company.
Here is Insider Monkey’s list of the 10 most shorted stocks hedge funds are buying. Vatsal Bhardwaj, the former director of gaming technology for Amazon Web Services, was recently appointed to the position of chief product officer of Skislz Inc. The move is part of a strategy to grow into the mobile gaming market. In the second quarter, the company’s profits per share and revenue fell short of market forecasts. The third-quarter guidance numbers again fell short of expectations. Bed Bath & Beyond Inc. was downgraded from Equal Weight to Underweight by Morgan Stanley. Short squeeze efforts have been made on AMC Entertainment Holdings, Inc., and short interest in the company remains strong. The company just announced that it will take dogecoin and other cryptocurrency payments at theaters across the United States. In the second quarter, Gogo Inc. failed earnings per share forecasts. In-flight cellular communication services are becoming more competitive for the company. Between March and June of last year, revenue was $82 million, down 14% from the same time the previous year. Over the last three months, the stock of GoodRx Holdings, Inc. has increased in value by 35%. The company offers tools and information to help people save money on prescription medicines. In the second quarter, the company outperformed the market in terms of earnings per share and revenue. For more details, click 10 Most Shorted Stocks Hedge Funds Are Buying.
