The Market has never been stronger, both the Dow and Nasdaq set new records, however, that didn’t deter the determined short sellers who pounced on America’s favorite retailers like hungry Sharks, they targeted Macy’s, M and Kohl’s, KSS
Macy’s, the iconic retailer, provided the most sumptuous Thanksgiving meal you could imagine, and the payout from Macy’s alone was a stunning $597 million dollar!
And Kohl’s, a store famous for deeply discounted designer clothing & shoes, offered a huge buffet to these hungry Orcas. Short Sellers made a whopping $556 million on Kohl’s.
Carl Icahn, who prefers to gobble up the whole thing like a Humpback Whale, is going after the Mall owners, instead of shorting one store at a time, according to The Wall Street Journal. Icahn is hoping to make $400 million, will he succeed? Only time will tell, Mall owners, however, are a savvy bunch and they would love to make an example out of him and put a life-sized Icahn on display.
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Source: WSJ, OxBridge Research, Daily Stock Deals