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No! Short-Selling List Now Includes … IBM?

September 24, 2008
by Eric Savitz
Blogger and Columnist, Barron's, Tech Trader Daily

Eric Savitz

OK, so this is getting ridiculous.

The SEC this morning added another dozen names to its list of stocks that are temporarily banned from new short sales. The weirdest addition: IBM. That’s right, IBM, one of the world’s leading technology companies. Someone needs to explain this to me, because I don’t get the logic.

What makes this especially weird is this: IBM shares are actually dramatically outperforming the market this year; the stock is up 7.8 percent year to date, beating the pants off both the major averages and most other large-cap tech stocks. In short, IBM has been a terrible short.

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