Data from the London Stock Exchange has revealed that 8.68 per cent of fast fashion company Boohoo’s shares are now out in short trades, according to a report by Business Post.
A post-pandemic slump in online trading, coupled with ESG issues, including labour conditions among Boohoo’s suppliers, have prompted some investors to dump the company’s stock. A number of large hedge funds meanwhile have reportedly ramped up their bets against Boohoo which is run by Irish chief executive John Lyttle.
Data supplied by Bowmore Asset Management indicates that 215 major short positions have been taken out against Boohoo in the past year, with its share price having fallen by two-thirds so far in 2022.
