(Bloomberg) — Short sellers have pounced on crypto-focused equities as the digital-assets space crumbles in the wake of FTX’s public implosion. They’re paying a steep price to place those wagers.
Najčitanije s Bloomberga
Kripto dionice su skoro tri puta manje u odnosu na prosječnu dionicu, iako prodavači na kratko plaćaju gotovo jedanaest puta više troškova financiranja da bi se kladili protiv njih, prema podacima koje su prikupili Ihor Dušaniwsky i Matthew Unterman iz S3 Partners.
Trgovci koji računaju na gubitke u nekolicini kripto dionica, uključujući Block Inc., Coinbase Global Inc., MicroStrategy Inc. i pet drugih, dodali su nove kratke hlače u vrijednosti od 55 miliona dolara u sedmici do petka, prema analizi S3. Samo Block i Coinbase zajedno su ostvarili oko 27 miliona dolara nove kratke prodaje. Ukupna kripto kratka kamata za ovih osam dionica iznosi više od 4.5 milijardi dolara.
MicroStrategy, meanwhile, has roughly 26% of its tradable float shorted, according to S3 data. For Silvergate Capital Corp., short interest as a percent of float exceeds 10%.
“Sam Bankman-Fried’s failed crypto exchange FTX.com and resulting bankruptcy has thrown crypto-currencies and the crypto industry into a volatile cycle of price movement,” Dusaniwsky and Unterman wrote in a note. “Shorting these crypto stocks has been a very profitable trade in 2022.”
Čak i prije nestanka FTX-a, kriptoprostor je bio uzburkan brojnim drugim implozijama i skandalima ove godine. Ali raspoloženje se još drastičnije pogoršalo nakon propasti FTX-a jer se smatralo da je kompanija stabilno prisustvo u industriji. Bitkoin, najveća digitalna imovina po tržišnoj vrijednosti - čije kretanje cijena često služi kao očitavanje raspoloženja kripto-tržišta - pao je ispod 17,000 dolara, sa skoro 69,000 dolara prije samo godinu dana.
Crypto-focused stocks have suffered too. Shares of Coinbase and Silvergate have declined more than 80% this year, while those of MicroStrategy have dropped 70%. Wall Street analysts’ conviction in the shares is also ebbing. Coinbase, for example, has the lowest number of buy-equivalent ratings since August 2021, data compiled by Bloomberg show.
FTX is now in bankruptcy, with revelations of its inner workings during its last days slowly trickling out in a dramatic way through court filings. FTX’s Chapter 11 filing said that approximately 130 affiliated companies have commenced voluntary proceedings. And regulators are looking into FTX’s fallout as well.
Its descent into bankruptcy went from “‘Oh jeez, this is bad,’ to ‘Oh my god, this is horrible,’” said Art Hogan, chief market strategist at B. Riley Wealth.
“We’ve already seen that FTX had a lot of tentacles. In the company alone, the cross-ownership in FTX into almost everything else that touches crypto means that there’s going to be more fallout to this,” he said in an interview. “So therefore, it’s intuitive to think that a lot of these real crypto-related companies are going to attract a lot of short sellers.”
Najčitanije sa Bloomberg Businessweek -a
© 2022 Bloomberg LP
Izvor: https://finance.yahoo.com/news/short-sellers-jump-crypto-stocks-194424764.html