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Royal Mail is in the firing line after hedge funds betting against the company rake in millions of pounds

04 Oct 2018, 13:01

https://www.thisismoney.co.uk/money/mar ... lions.html

Short-sellers who were betting against Royal Mail have netted millions of pounds after its shares plummeted.

Around 5.9 per cent of the stock is now on loan, with Blackrock, GLG Partners and Eminence Capital among those with the biggest holdings, according to data provided to the Financial Conduct Authority.

The bets proved lucrative for hedge funds this week, with Royal Mail’s shares plunging a quarter since a profit warning on Monday.

Hedge funds betting the company’s share price will fall are thought to have raked in tens of millions of pounds.

Blackrock and GLG Partners have both increased their positions since the profit warning.

Yesterday Royal Mail shares recovered slightly, rising 0.8 per cent, or 2.9p, to 361.5p.

However analysts predicted its stock would fall further, with Jefferies slashing its price target from 400p to 290p.

Royal Mail is in the firing line after hedge funds betting against the company rake in millions of pounds

04 Oct 2018, 14:13

Blackrock, that's George Osborne's bunch. Wonder what insight, if any, he added!

Not convinced by the sub-300 price

Royal Mail is in the firing line after hedge funds betting against the company rake in millions of pounds

04 Oct 2018, 19:39

Shorting really should be outlawed. I reckon it could drift down to low£3 , let's see how many posties have pre ellected to sell on 15th.

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