Word: float
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Dates: during 2000-2009
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...Citigroup (C) is the most shorted stock in America. As of April 15, the bank had a short interest of 1.237 billion shares. Its trading volume average of the prior two weeks was 532 million shares a day. Citi has an extraordinary 24% of its float sold short, a sign that a huge number of investors are willing to gamble against the share price. Citi's stock is subject to wild swings, in part because the short sellers in the company's shares have been "squeezed" more than once this year - forced to cover when the banks had good news...
...beginning of 2009, even though it was the premier insurance company in the world just four years ago. Shares short in AIG fell 3% during the most recent period to 278 million, against an average daily volume of 125 million shares. Eleven percent of the financial firm's float is now sold short. AIG's stock can more up or down 15% on any given day based on information about whether the government will have to add to its $13o billion commitment to the firm and news about its desperate attempts to auction off its divisions to get money back...
...Level 3 (LVLT), the broadband infrastructure company, has also been at the top of short selling lists for years. It has a float of close to one billion shares which makes taking a short position in the stock fairly easy. Average trading volume per day is 10 million shares. As of April 15, there were 122.9 million shares sold short, down 13% in two weeks. Level 3 has two factors that short sellers love. It has awful financial prospects and a volatile share price. At the end of the last quarter, Level 3 had $6.3 billion in debt and almost...
...Gannett (GCI) is the largest newspaper company in the U.S. which makes it the subject of constant speculation and financial media interest. Its short interest as of April 15 was 63.8 million shares, down 7% from two weeks earlier. The company has a very high 28% of its float sold short, which is equivalent to six trading days of volume based on the current daily average. As concerns about the fate of the newspaper industry mounted, Gannett's shares plunged from over $9 in mid-January to $1.85 in mid-March. Two weeks ago, Ariel Investments announced that...
...started painting his signature hard-edged abstracts: bright, lighthearted, with their own internal logic. Black lines, now severely clear-cut, are a skeleton for vividly colored shapes on a pale background. New motifs appear: jagged saw teeth, rainbows, triangles, circles. Though none of these canvases have subjects, pictograms float through them - sometimes recognizable boats, creating structure with their masts and spars...