NEW YORK (Reuters) - One notable factor in Wall Street's monster rally on Wednesday was a record gain in an index of stocks that have the largest bets placed against them by market contrarians. The Thomson Reuters United States Most Shorted Index rose 6 percent, the biggest percentage rise in its six-year history, as some investors moved to cover bearish bets on the 51 stocks in the index, some of which were at their lowest price in years. The gain came as the Dow Jones Industrial Average surged more than 1,000 points in a single session for the first time, in a broad stock rebound that pulled the benchmark S&P 500 index back from the brink of a bear market.
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Thursday, 27 December 2018
Most shorted stocks log record gain as Wall Street surges
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