Short-Selling Bears Set Record on Nasdaq
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The Nasdaq Stock Market said Tuesday that short interest--a bet that share prices will fall--rose to a record as of mid-June, as bearish traders again looked for technology stocks to pull back.
Nasdaq said the number of shares borrowed and sold totaled 3.82 billion as of June 15, up 3% from the mid-May total.
A short sale is when an investor borrows a stock and sells it with the intention of buying it back at a lower price. The investor, who could lose money if the stock rises, keeps any profit from the sale after closing the trading position.
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