Short Squeeze Sends US Stocks Soaring as $93B in Bearish Bets Rapidly Unwind

TLDR: Heavily shorted US stocks surged 13%, outperforming the S&P 500 by nine percentage points Short sellers covered $93 billion in positions, marking one of the fastest unwinds in years Unprofitable tech stocks rallied strongly, with gains reaching up to 14% during the week Institutional buying and algorithmic funds added momentum to an already accelerating [...]

The post Short Squeeze Sends US Stocks Soaring as $93B in Bearish Bets Rapidly Unwind appeared first on Blockonomi.