The value of the e-commerce firm’s ‘end-to-end technology solutions’ doesn’t seem clear – no wonder investors went cold
For all the excitable claims by Matt Moulding, founder, chairman and chief executive of THG, that the e-commerce retailer was a victim last year of a vicious “short attack” from hedge funds, there was a boring explanation for the big tumble in the share price.
The stock market, in its collective wisdom, was already in the process last autumn of deciding that the e-commerce and new-tech brigade – think Asos, Boohoo, Darktrace and others – might be a tad overvalued. The reappraisal wasn’t confined to the UK; it was happening in the US too.
