What happened on the US stock market overnight and how could it impact ASX shares?
It wasn’t a great start to the week on Wall Street…
James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn t looked back since. James is part of the CFA Institute s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns.
Fresh blow to ASX 200 travel shares as Victoria lockdown looms large fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
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At the start of each week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.
This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.
With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:
Kogan.com Ltd (ASX: KGN) is back as the most shorted ASX share after its short interest rebounded week on week to 11.5%. This ecommerce company has been struggling with inventory issues. Short sellers don’t appear to believe they are going away despite recent lockdowns potentially boosting sales.
The ASX shares with the most to lose from a delayed COVID reopening fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
ASX travel shares slip as Sydney lockdown extends for another week
It’s the 15th day in the row of double-digit case numbers in the state.
Marc is a Master of Journalism and Communications student at UNSW and journalist at The Motley Fool. He has a passion for journalism and news with a keen interest in business, the media, politics, foreign affairs, and how they intersect in everyday life.
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Three of Australia’s big-name ASX travel shares are in the red today after the New South Wales Government announced the Sydney lockdown would be extended for another 7 days.