{"id":16134,"date":"2023-05-31T07:35:18","date_gmt":"2023-05-31T11:35:18","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/nvidia-shorts-extend-mark-to-market-losses-as-market-cap-hits-1-trln-s3-partners\/"},"modified":"2023-05-31T07:35:18","modified_gmt":"2023-05-31T11:35:18","slug":"nvidia-shorts-extend-mark-to-market-losses-as-market-cap-hits-1-trln-s3-partners","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=16134","title":{"rendered":"Nvidia shorts extend mark-to-market losses as market cap hits $1 trln -S3 Partners"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The logo of NVIDIA as seen at its corporate headquarters in Santa Clara, California, in May of 2022. Courtesy NVIDIA\/Handout via REUTERS\/File Photo<\/span>
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By Caroline Valetkevitch<\/p>\n

NEW YORK (Reuters) – Short sellers in shares of Nvidia (NASDAQ:) Corp were down $4.1 billion in mark-to-market losses in three trading days, according to financial data firm S3 Partners, as the chipmaker’s market capitalization hit $1 trillion on Tuesday.<\/p>\n

Nvidia’s shares were up about 31% combined over Thursday, Friday and trading so far on Tuesday, and up about 174% year-to-date. The market was closed on Monday for a U.S. holiday.<\/p>\n

The chipmaker after the close on Wednesday forecast second-quarter revenue more than 50% above Wall Street estimates, and said it is bumping up supply to meet demand for its artificial-intelligence chips.<\/p>\n

Nvidia’s business grew rapidly during the pandemic as videogaming increased, cloud adoption surged and its chips were used for mining cyrptocurrency.<\/p>\n

Ihor Dusaniwsky, S3 managing director, wrote in a note on Tuesday that even with significant short covering in Nvidia, the stock is the fourth most shorted in the U.S., after Apple (NASDAQ:), Tesla (NASDAQ:) and Microsoft (NASDAQ:).<\/p>\n

For 2023, Nvidia short sellers are now down nearly $9 billion in mark-to-market losses, according to Dusaniwsky.<\/p>\n

Investors who sell securities “short” borrow shares and then sell them in hopes that the stock will fall so the shares can be bought back at a lower price, allowing the investor to repay the loan and pocket the difference. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The logo of NVIDIA as seen at its corporate headquarters in Santa Clara, California, in May of 2022. Courtesy NVIDIA\/Handout via REUTERS\/File Photo By Caroline Valetkevitch NEW YORK (Reuters) – Short sellers in shares of Nvidia (NASDAQ:) Corp were down $4.1 billion in mark-to-market losses in three trading days, according to […]<\/p>\n","protected":false},"author":1,"featured_media":12005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-16134","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nNvidia shorts extend mark-to-market losses as market cap hits $1 trln -S3 Partners | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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