I was curious now that Goldman Sachs is on record for recommending shorts of various stocks and their broker data backs this up to see what they're actively buying.
The top three stocks over the last month were EVN, SSM and SLC. It is interesting because SLC is probably one of my best performing investments over the last few years. It is a telco. It was underloved and undervalued for years and my average price for buying that stock was $0.60 and at the time it had about $0.75 per share in net assets and given it owned fibre networks it was a no brainer to buy it. I recall how poor the brokerage coverage was not only for a little while but this persisted years. Fast forward to today the share price is $3.00 but the business hasn't really changed all that much (Telco is incredibly predictable) and Goldman are one of the brokers paying top dollar on the same shares they publically said weren't worth buying below $1.00 per share only a couple of years ago. Even at recently as December 2024 Goldman put a sell on Superloop sighting margin pressure.
If they can't value a Telco properly how are they meant to get a value for a biotech business? It seems like their entire short model is based on momentum and nothing else. The stocks are just symbols, not businesses.
NEU Price at posting:
$12.56 Sentiment: Buy Disclosure: Held
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