Jim Chanos’ 5 Short Positions in 2023

In this article, we discuss Jim Chanos’ 5 short positions in 2023. If you want to see more stocks in this selection, check out Jim Chanos’ 10 Short Positions in 2023.

5. Veris Residential, Inc. (NYSE:VRE)

Value of Put Option: $1,326,384
Year to Date Gain: 15%

 Veris Residential operates, acquires, and develops multifamily properties that meet sustainability-conscious lifestyle needs. According to the short seller, there is no justification for investing in commercial real estate that does not see strong demand at 3%, 4%, and 5% cap rates.

4. NVIDIA Corporation (NASDAQ:NVDA)

Value of Put Option: $1,416,627
Year to Date Gain: 208%

NVIDIA Corporation (NASDAQ:NVDA) might turn out to be an expensive short play for the famed short seller. The stock has been in an impressive form, tripling in value amid the AI boom. Nevertheless, the famed short seller has taken aim at the AI hype, insisting the significant rally might not be justified.

According to the legendary investor, most AI stock’s value might have been inflated on expectations that the Fed will go slow on interest rate hikes. If that is not the case, then a reversal could be in play.

3. Piedmont Lithium Inc. (NASDAQ:PLL)

Value of Put Option: $1,759,465
Year to Date Gain: 6%

Piedmont Lithium Inc. (NASDAQ:PLL) is a development Stage Company that explores and develops resource projects in the US. It is developing a Lithium project in Carolina, making it a key player amid growing demand for Lithium to lithium-ion batteries. While the stock is up by more than 6% year to date, it is down by about 35% from 2023 highs. The slide underscores why the stock would be one of Chano’s short plays.

2. GDS Holdings Limited (NASDAQ:GDS)

Value of Put Option: $4,726,578
Year to Date Decline: 42%

The legendary short seller has been bearish on commercial real estate, especially in China. GDS Holdings Limited (NASDAQ:GDS) is one of the companies believed to be part of his short portfolio. The company operates data centers in the People’s Republic of China. Chanos reiterates that companies developing and operating data centers face an unprecedented future as tech giants resort to building and operating their own data centers instead of leasing.

1. First Republic Bank (NYSE:FRC)

Value of Put Option: $12,129,330
Year to Date Decline: 99%

First Republic Bank (NYSE:FRC) is one stock that has imploded in a catastrophic fashion and, in the process, generated significant returns for short sellers. The bank failed earlier in the year at the height of the banking crisis as its loan portfolio was poorly structured to face rising interest rates. Poor performance and subsequent bank run has resulted in the stock plummeting by over 99% year to date.

Chanos is believed to have been one of the biggest beneficiaries of the First Republic Bank (NYSE:FRC) implosion as he was short the stock through Put calls.

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