Toyota's Gain is Hedge Funds' Loss

Dow Jones
昨天

To understand the woes of hedge-fund managers this week, look no further than the stock of Toyota, the Japanese carmaker.

Hedge funds have been betting on an AI revolution by buying stocks tied to artificial intelligence and hedging their positions by wagering that non-AI names like Toyota would fall or at least not rise as much, hedge-fund investors say.

As yesterday's AI selloff gained momentum, it triggered so-called margin calls, or automated selling at certain prices, prompting more selling and steepening the losses.

At the same time as their long positions were taking a beating, hedge-fund managers were also scrambling to contain losses on the other side of their bets.

As investors pulled money out of AI trades, they piled into stocks like Toyota, which had its best day since 1987. Part of that gain was attributed to investors hoping the Democratic win in the U.S. could lead to lower tariffs and a drop in oil prices, both of which would help the Japanese carmaker.

But it also reflected money managers rushing to buy back shares in the company that they had previously shorted, hedge-fund investors say, driving up its stock price and triggering what's commonly known as a short squeeze.

Shorting involves a bet against stock by either borrowing shares to sell them, or through derivatives granting the buyer the right to sell an asset at a specific price.

 

应版权方要求,你需要登录查看该内容

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10