"Magnificent 7", the seven bellwethers of US techs, saw short sellers pocket more than US$10 billion of profits last week, marking the largest single-week profits on record, Reuters reported, citing Ortex data.
Among them, NVIDIA (NVDA.US) grossed decline of nearly 14% last week, the biggest one-week drop in 19 months, from which short sellers gained more than US$3 billion.
Tesla (TSLA.US) , which fell a similar amount, also brought in US$3 billion in profits for short sellers. Separately, short sellers of Microsoft (MSFT.US) and Apple (AAPL.US) earned US$1 billion respectively last week.
According to LSEG data, the "Magnificent 7" evaporated nearly US$1 trillion in market value last week.
Tesla, Meta (META.US) , Alphabet (GOOGL.US) and Microsoft are due to announce their quarterly results this week.
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