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Short Sellers Go After Chevron Stock: Still a Hold?
CVXChevron(CVX) ZACKS·2024-09-17 20:01

Energy major Chevron Corporation (CVX) emerged as August’s most shorted large-cap stock in the United States ahead of Tesla (TSLA) , according to Hazeltree’s Shortside Crowdedness Report.Report: Shorting Chevron Stock Surges 200millionThereport,whichcompilesdatafromapproximately700assetmanagementfundsglobally,revealedthatthetotalvalueofChevronsstockusedforshortingsurgedbymorethan200 millionThe report, which compiles data from approximately 700 asset management funds globally, revealed that the total value of Chevron's stock used for shorting surged by more than 200 million last month.Short selling occurs when a trader sells shares they don't own, hoping that ...