Asos targeted by ‘dark destroyer’ short-seller ShadowFall
Embattled pureplay fashion brand Asos has been targeted by a renowned short-seller, which believes the retailer will be forced to raise more cash from shareholders.
Matthew Earl, boss of investment firm ShadowFall, has built a £4m short position in Asos, according to The Sunday Times.
Short-sellers hope to profit from a company’s falling share prices by selling shares they have borrowed and then buying them back at lower prices in the future.
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