Technology Bears Miss 20% Payouts After Giving Up on Shorts
This article is for subscribers only.
Bears who abandoned bets against technology companies from Facebook Inc. to Netflix Inc. in 2013 can only sit and watch now as the stocks tumble.
While the Nasdaq 100 Index plunged the most since 2011 last week, it happened as short interest in many of its biggest constituents stood at around zero, according to data compiled by Bloomberg and Markit. Shares borrowed and sold on expectations of a decline amount to 0.2 percent of Facebook’s outstanding stock and 1 percent of Netflix, down from 15 percent two years ago, the data show.