Bloomberg Surveillance · Tuesday, July 21, 2026
Julian Emmanuel from Evercore ISI suggests that short covering could drive vigorous rallies this earnings season. He noted that the "Mag Seven" stocks have been punished, and are also reasonably active shorts for hedge funds, indicating potential for significant upward movement.
“They are, There's no question about it. And not only are they undernwoned by the long only by side, they also have been reasonably active shorts from the hedge funds.”
“And we all know that it's very frequently the case. Certainly it was the case at the beginning of April that the most vigorous rallies start with short covering, and we think we're going to see that this earning season.”