Short Sellers Targeting Major Auto Stocks, Growing Their Positions - S3 Partners
US MOVERS&SHAKERS Dec 16-Dec 20, 2024
Hong Kong stocks moving | Li Auto-W (02015) rises over 3% as it collaborates with the Aerospace Material Institute to jointly develop aerospace-grade Battery thermal insulation materials.
Ideal Autos-W (02015) rose over 3%, up 3.24% as of the time of writing, priced at 94 Hong Kong dollars, with a transaction volume of 0.553 billion Hong Kong dollars.
The Dow barely ended its longest continuous decline in 50 years, Micron fell by 16%, the US dollar reached a two-year high again, and US bonds, oil, and Bitcoin all dropped.
U.S. stock market's other Indexes turned down towards the end, Tesla rose by nearly 4% before closing down, NVIDIA reached a high of 4%, and Micron Technology had its steepest decline in five years. The yield on the 10-year U.S. Treasury bonds briefly increased by nearly 10 basis points approaching 4.60%, close to a seven-month high, while short-term bond yields fell, with the 2/10-year yield spread at its widest in two and a half years. The Bank of England held rates steady, but more officials supported a rate cut, leading to a decline in the British Pound. The Governor of the Bank of Japan suppressed interest rate hike expectations, causing the yen to fall towards 158, and the offshore renminbi briefly dropped below 7.32 yuan to its lowest in 15 months. Bitcoin fell by 5%, approaching $0.096 million. Spot Gold rose by 1.6% before narrowing back below $2,600, while the futures silver fell by 5%, and U.S. crude oil fell below $70.
U.S. stocks are moving | Li Auto (LI.US) rises nearly 3% after establishing a joint laboratory with the Third Academy of China Aerospace Science and Industry.
On Thursday, Li Auto (LI.US) rose nearly 3%, reaching $23.42.
Trending Industry Today: Rivian Automotive Leads Losses In Electric Vehicles Stocks
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