In spite of recent 140% rise in Thomas Cook Group stock prices, so far, we noted little reduction in the biggest short positions.*
Thomas Cook stock price moved from a low of 8.33p on May 20, to as much as 20p on June 10, resulting in as much as +140% from May lows (ref. investing.com).
During the recent rise, AQR Capital somewhat reduced their short (three reductions, overall from 1.11% to 0.89% short), while Silver Point Capital and Highbridge Capital increased their shorts.
Citadel appeared with a new 0.51% short on 2019-06-07, pushing the overall short interest to 8.67%, the highest levels we ever recorded for this stock.
Capital Fund Management cut their short below 0.5% on May 21, the day when prices were approximately in 10-12p range. Prior to that, Capital Fund Management's short was continuously above 0.5% since January 22. Having in mind that Thomas Cook Group closed around 38p on January 22, stock prices declined about 70% during the holding period of this big short.
According to Breakout Point records, Thomas Cook is the most shorted stock in Hotels & Entertainment Services sector in EU and, also, had the highest increase of % short interest among UK stocks in 2019.
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* Note: Presented short selling data is based on European net short position data which is disclosed to the public when short positions at least equal to 0.5% of company issued share capital. Presented data and analytics is as of available on 2019-06-11.
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