Stocks Extend Rally, Costing Short Sellers $43 Billion
• Hedge funds have lost $43 billion recently trying to short the market as stocks rally • The S&P 500 is eyeing its best month since July 2022, up over 7% in November • A "short squeeze" has forced some funds to repurchase shares as prices climbed higher • Bets against tech, healthcare, and consumer discretionary companies were especially painful • Analysts believe correlations between sectors suggest equities will continue rallying