Canada-based Toronto-Dominion is now the most-shorted financial intuition in the world.
Short sellers are betting that Canada-based lender Toronto-Dominion Bank — better known as TD — will be the next firm to fall due to ongoing turmoil in the global banking sector.
Investors have wagered approximately $3.7 billion on bearing bets against shares of Toronto-Dominion, which ranks as Canada’s second largest bank,Toronto-Dominion is now the most-shorted financial intuition in the world, according to the firm’s data. France’s BNP Paribas ranks second with just over $3 billion in short bets, following by Bank of America at roughly $2.74 billion and JPMorgan Chase at $2.6 billion.
“Short sellers have been actively shorting into a declining banking sector,” S3 Partners managing director of predictive analytics Ihor Dusaniwsky told the outlet.Bank stocks around the world came under pressure in recent weeks after the collapses of Silicon Valley Bank and Signature Bank of New York sparked fears of spreading contagion.
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