No! Short-Selling List Now Includes … IBM?
OK, so this is getting ridiculous.
The SEC this morning added another dozen names to its list of stocks that are temporarily banned from new short sales. The weirdest addition: IBM. That’s right, IBM, one of the world’s leading technology companies. Someone needs to explain this to me, because I don’t get the logic.
What makes this especially weird is this: IBM shares are actually dramatically outperforming the market this year; the stock is up 7.8 percent year to date, beating the pants off both the major averages and most other large-cap tech stocks. In short, IBM has been a terrible short.