Bets on a fall in online fashion retailer Boohoo’s share price have soared to record numbers.
Marshall Wace, run by Sir Paul Marshall and his business partner Ian Wace, is among a handful of hedge funds to have increased their short positions – contracts that allow them to financially benefit when a share price falls – in the past week.
In focus: Boohoo shares have hit their lowest level in more than three years
Citadel and Kuvari Partners have also built their positions, doubling the value of short positions in Boohoo in the past two months to 3.8 per cent and propelling it to become the 11th most shorted stock in the FTSE.
The shares have hit their lowest level in more than three years over growing fears that the high street is beginning to win back some of its lost customers.
Boohoo rival Missguided is in talks with investment fund Alteri in a move aimed at strengthening its balance sheet.
