Five Years of Futility Breaking for Bears as Shorts Drop
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After a five-year bull market that has impoverished almost anyone trying to profit from falling stocks, bears are finally reaping gains.
GameStop Corp. and 3D Systems Corp. led a 7.6 percent drop last month in an index of 50 U.S. companies with the highest short interest, the biggest retreat since 2012, according to data compiled by Goldman Sachs Group Inc. and Bloomberg. The gauge has fallen 1.7 percent this year, making money for investors who bet on declines even as the Standard & Poor’s 500 Index is up 4.8 percent.