Short Squeeze Fuels Biggest One-Day Rallies in S&P 500: Chart

Companies with the highest short interest were among the best performers in the Standard & Poor’s 500 Index Thursday. Short interest as a percentage of shares outstanding for the top 10 gainers sits at 11 percent, according to data compiled by Bloomberg and Markit Ltd. That compares with the benchmark’s average of 3.4 percent. With raw-material and energy-related companies rallying amid a retreat in the U.S. dollar, investors are covering their short positions, said Alex Kosoglyadov, director of equity derivatives at BMO Capital Market Corp.