- Short sellers have upped their bearish bets against Toronto-Dominion Bank, with $3.7bn on the line.
- TD has the biggest short in the banking industry globally, ahead of BNP Paribas and Bank of America.
- TD's exposure to Canada's housing slowdown and its ties to the US market are contributing to the bearish bets.
- Short interest as a percentage of TD's shares available for trading remains low but has increased from a year ago.
- S3 warns that short-seller profits can evaporate quickly, especially if they are a result of a broad-based rally.
Toronto-Dominion Becomes Biggest Bank Short With $3.7 Billion on the Line
Toronto-Dominion Bank becomes the world's largest banking short with $3.7bn on the line as it faces exposure to Canada's housing slowdown and ties to the US market.