Carson Block’s ‘Insane Alpha’ Fades in Bad Year for Short Bets

(Bloomberg) — Carson Block is having an unusually tough time betting against Chinese stocks.

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The famed short seller’s recent calls to unload shares of GSX Techedu Inc., TAL Education Group and Joyy Inc. have largely backfired after the stocks rallied following brief dips when his reports were first posted.

“GSX, after we reported it, tripled,” Block said in an interview with Bloomberg Television. “There is clearly something wrong.”

Block, founder of Muddy Waters Research, isn’t questioning his methods. He blames options traders, small floats and investors taking advantage of low volumes to push the Chinese stocks back up after his calls.

The result has been a grim year of shorting China equities for Block, who earned his reputation following successful bets against companies like Noble Group Ltd., the commodities firm in Singapore, and Sino-Forest Corp., a Canada-based timber company that operated in China.

GSX, the online education firm

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COVID-19 testing in Mass. is ‘far short’ of levels needed to stop the spread

Another takeaway: A ramped-up testing infrastructure will remain crucial to public health, well after vaccines are widely available.

“It’s not at the pace we would have expected,” said Donna Hochberg, a partner at consultancy Health Advances who leads the firm’s diagnostics practice. “Testing really does help control the pandemic.”

Bain Capital cochair Steve Pagliuca, who leads the tech council’s COVID-19 response and recovery efforts, hosted the event on Monday. The tech council’s main goal is to educate employers and public leaders about the continued need to focus on testing strategies even as the fight against COVID-19 enters a new phase with the arrival of vaccines. In its latest report on the issue, the tech council recommended that federal, state, and local governments develop a systematic, expanded testing regime using multiple kinds of tests and employing public-private partnerships.

Pagliuca, also a co-owner of the Boston Celtics, noted how the number of

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Short Sellers Target Ping An’s Fintech Unit After Ant IPO Fiasco

(Bloomberg) — The headwinds that toppled Ant Group Co.’s initial public offering now threaten a $22 billion dream of China’s Ping An Insurance (Group) Co. — to pivot from a finance group to a tech giant and be valued like one.

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While Ping An’s Lufax Holding Ltd., which offers wealth management and retail lending services, was able to complete its U.S. IPO days before new Chinese rules torpedoed Ant’s $35 billion sale, the stock has given up early gains and is now a target for short sellers. Renewed threats by U.S. regulators to delist Chinese stocks also threaten Ping An’s plans to take more of its in-house startups public.

Ant’s IPO suspension “fundamentally changed near-term investment appetite” for Chinese fintech stocks, with Lufax as “the community’s No. 1 consensus short,” according to a Nov. 5 report from Procensus, which polled 84 global investors managing $15.3 trillion. Short interest

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ADVA Optical Networking SE (OTCMKTS:ADVOF) Sees Significant Increase in Short Interest

ADVA Optical Networking SE (OTCMKTS:ADVOF) was the recipient of a large growth in short interest in the month of October. As of October 30th, there was short interest totalling 3,800 shares, a growth of 1,800.0% from the October 15th total of 200 shares. Based on an average daily trading volume, of 26,400 shares, the short-interest ratio is presently 0.1 days.

Several research firms recently commented on ADVOF. Zacks Investment Research downgraded shares of ADVA Optical Networking from a “buy” rating to a “hold” rating in a research note on Thursday. Commerzbank AG (CBK.F) upgraded shares of ADVA Optical Networking from a “reduce” rating to a “hold” rating in a research report on Monday, July 20th.

Shares of OTCMKTS ADVOF opened at $7.20 on Monday. The business has a fifty day moving average price of $7.67 and a two-hundred day moving average price of $7.42. The stock has a market capitalization

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Are PS5 Consoles In Short Supply? Gamers Face Battle Buying Sony’s New System

KEY POINTS

  • Retailers such as Target are out of stock
  • The system goes for $499, but is $100 cheaper for a digital-only package
  • Sony didn’t stock shore shelves with PS5s because of the pandemic

Gamers on Thursday got their chance to snatch up the latest iteration from PlayStation but supply-chain issues and the pandemic are making it tough to buy.

Sony announced last week its PlayStation5 would be available to the general public on Nov. 12, and a week later in some regions — just not in stores. Pre-orders were available and some Twitter users suggested they were walking out of stores under the watchful eye of the unfortunate.

“What a year,” Jim Ryan, the president and CEO of Sony Interactive Entertainment, said in a statement Wednesday.

In announcing the launch plans last week, the company said that in the interest of keeping people safe during the pandemic, sales would

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