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Reuters reported that Alcoa’s (NYSE:AA) chief executive has blamed short-selling for a big fall in the price of Aluminum and with it the company’s share price.
Reuters reported that Alcoa’s (NYSE:AA) chief executive has blamed short-selling for a big fall in the price of Aluminum and with it the company’s share price.
As quoted in the market news:
Short selling is a common way for hedge funds and other investors to bet on falling commodities or shares prices.
“They are betting against aluminum as a proxy for betting against the global economy,” Klaus Kleinfeld said this week, warning of “very offensive short-selling going on by speculators”.
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