Day: November 12, 2020

Short sellers lost billions as travel and leisure stocks rallied Monday

LONDON/NEW YORK (Reuters) – Short sellers betting against European and U.S. travel, leisure and bank stocks lost billions of dollars on Monday, after news of a COVID-19 vaccine triggered a rally in shares of companies that have suffered under months of virus-fueled restrictions and lockdowns.

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 15, 2020. REUTERS/Staff

Investors positioned to profit from declines in European travel, leisure and bank stocks alone lost more than $500 million on Monday, according to data provider ORTEX Analytics.

Among U.S. shares, just seven travel-linked companies, Carnival Corp CCL.N, Expedia Group EXPE.O, Booking Holdings Inc BKNG.O, Royal Caribbean Group RCL.N, American Airlines Group AAL.N Wynn Resorts WYNN.O and Norwegian Cruise Line Holdings NCLH.O, accounted for $2.35 billion in losses for short sellers,

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