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In the thrilling world of investing, short sellers aim to make a profit when stock prices plummet. Unfortunately, 2024 was anything but a banner year for these market gamblers. Despite the DAX skyrocketing by over 20%, and the S&P 500 and NASDAQ technology indices achieving impressive gains of 23% and 29% respectively, short sellers had a tough time navigating the rising tide.
Short selling involves selling borrowed shares, hoping to repurchase them at a lower price before returning them. If luck is on their side, these "bets" can yield substantial profits. However, as the market soared in 2024, many short sellers faced significant losses.
Based on information from financial data and analysis firm, S3, the aggregate balance for short sellers in the US was negative in 2024. While there were wins, the overall total was a substantial loss of around 180 billion dollars - or 15% of the 1.2 trillion dollars' worth of shares they sold short. In contrast, Europe's smaller market brought short sellers a meager profit of 8 billion dollars.
Germany, in particular, spelled doom for short sellers. Those who bet against Siemens Energy endured the most significant losses. Selling shares worth over 800 million dollars, these investors watched as the price soared beyond 300%. Consequently, they suffered a loss of over one billion dollars, making shorting Siemens Energy the most unprofitable bet of 2024.
Overseas, the US market presented a different story. The staggering rise of chipmaker Nvidia cost short sellers a staggering 24 billion dollars, while short bets on Tesla and Apple lead to losses of 13 billion and 8 billion dollars, respectively. Despite these substantial losses, some lucky short sellers capitalized on the collapse of Intel, pocketing a profit of 2.3 billion dollars.
Encountering failure is not uncommon in the world of finance, and short sellers are no exception. In 2024, despite the significant losses, some managed to make a profit. Reportedly, short sellers benefited from the decline in Moderna's stock price, earning around 1.6 billion dollars. In Europe, short sellers saw gains from French conglomerate Vivendi and German companies SMA Solar, Verbio, and Aixtron.
However, the S3 data does not shed light on the extent of the losses short sellers had to endure or offset with profits from "long" bets on rising prices. The reasons behind these transactions can vary— either speculation on falling stock prices or hedging against potential losses from "long" investments.
In the grand scheme of the stock market, 2024 was a booming year for most investors. However, short sellers were not so fortunate, incurring substantial losses across both the US and European stock markets.
Despite the overall market growth in 2024, short sellers struggling to navigate the rising tide saw significant losses in their share prices bets. In contrast to the US, where chipmaker Nvidia and tech giants Tesla and Apple resulted in substantial losses for short sellers, Europe's smaller market only yielded a meager profit for them.
