Home Business News Hedge funds bet against betting firms

Hedge funds bet against betting firms

by LLB Editor
24th Feb 20 12:25 pm

There were stories over the weekend that some of the biggest hedge funds are betting against gambling firms, by shorting their stock.

“Short selling is essentially investors betting that the share price will go down,” Mouhammed Choukeir, chief investment officer at Kleinwort Hambros tells Radio Five live’s Wake up to Money programme.

“The betting companies are out of favour with a portion of investors, so they are betting against them, expecting the share price to go down.

“Ladbrokes owner GVC is one of the stories, but we see this too with Flutter, which owns Paddy Power Betfair.”

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