FIS: Tech, entertainment and energy take top spots
09 November 2016 London
Image: Shutterstock
The technology, entertainment and energy sectors earned the most short interest for the week beginning 28 November, according to the FIS Astec Analytics hot stocks list.
Norwegian marine geophysics company Petroleum Geo Services, International Business Machines (IBM) and GungHo Online Entertainment were all regional top picks for Astec Analytics in Europe, the Middle East and Africa (EMEA), the Americas and the Asia Pacific, respectively.
After making its debut only last week, Norwegian marine geophysics firm Petroleum Geo Services saw short interest in its shares fall by 17 percent.
The firm's shares price increased from NOK 2 (USD 0.12) to NOK 25.92 (USD 3.05), a rise of over 8 percent.
For the Americas, shorting interest in IBM increased by more than 50 percent since May, however, its share price increased by more than 10 percent in the same period.
After featuring in the hot stocks list several times this year, IBM has finally seen its shares rise in value. Last week share prices reached a 12-month high of $164.54, before falling moderately to $160.02 by the end of the week.
For the Asia Pacific, Japanese online entertainment company GungHo鈥檚 share prices continued to drop, falling from CNY 17 (USD 0.15) to CNY 243 (USD 2.11) by the end of the week.
After being the top pick just two weeks ago, the company saw a significant shift of over 20 percent in share price, representing levels not seen since April.
Short interest consequently fell 7 percent in volume, marking a 34 percent drop from the 12-month peak seen in mid-November.
Norwegian marine geophysics company Petroleum Geo Services, International Business Machines (IBM) and GungHo Online Entertainment were all regional top picks for Astec Analytics in Europe, the Middle East and Africa (EMEA), the Americas and the Asia Pacific, respectively.
After making its debut only last week, Norwegian marine geophysics firm Petroleum Geo Services saw short interest in its shares fall by 17 percent.
The firm's shares price increased from NOK 2 (USD 0.12) to NOK 25.92 (USD 3.05), a rise of over 8 percent.
For the Americas, shorting interest in IBM increased by more than 50 percent since May, however, its share price increased by more than 10 percent in the same period.
After featuring in the hot stocks list several times this year, IBM has finally seen its shares rise in value. Last week share prices reached a 12-month high of $164.54, before falling moderately to $160.02 by the end of the week.
For the Asia Pacific, Japanese online entertainment company GungHo鈥檚 share prices continued to drop, falling from CNY 17 (USD 0.15) to CNY 243 (USD 2.11) by the end of the week.
After being the top pick just two weeks ago, the company saw a significant shift of over 20 percent in share price, representing levels not seen since April.
Short interest consequently fell 7 percent in volume, marking a 34 percent drop from the 12-month peak seen in mid-November.
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