Feb
08
Sharp Rally Spells Bad News for Short-Selling Hedge Funds
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Sharp is the second-most shorted stock in Japan after Toshiba
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Lansdowne, Egerton among investors that bet on shares falling
Sharp Corp.’s 42 percent increase since the beginning of the year has left hedge funds that have placed wagers on a decline in the stock of the Japanese consumer electronics maker in the midst of a bailout smarting.
Osaka-based Sharp is the most-shorted stock by the number of shares after Toshiba Corp., according to filings with the Japan Exchange Group. Shares of Sharp gained 28 percent in the last two trading days of last week in Tokyo to 176 yen, reaching the highest level since Aug. 31. That may spell losses for hedge funds including Lansdowne Partners LLP and Egerton Capital (UK) LLP, which have disclosed bearish bets on the stock since November…
Sharp Rally Spells Bad News for Short-Selling Hedge Funds
