Muddy and 5 other HFs shorting Solutions 30

Muddy and 5 other HFs shorting Solutions 30

TL; DR: Following a short position by Muddy Waters Capital in May, five more hedge funds (HFs) disclosed shorts in Solutions 30.*

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A 0.51% short position by Swedish HF Bodenholm Capital is the latest short disclosure in Solutions 30. 

Short position by Muddy Waters Capital LLC was the first ever short disclosure in this France-based company. Interestingly, since then five more HFs popped-up with shorts in this stock and all of them either kept or increased their shorts. As of the latest disclosures, the resulting overall short interest is at 4.97%, translating into a €47m short, at a market cap of about €950m.

Muddy Waters Capital LLC put a 0.5% short position in Solutions 30 on May 17. Following this disclosure, share price dropped more than 30% on intraday basis on May 20 and closed on that day about 25% lower, at €9.14 (ref. Business Insider). The stock price moved between €7.21 and €10.2 since and closed at €9.14 on Friday (ref.

Muddy Waters did not elaborate why they shorted this stock and just briefly commented on Twitter: "Whose investors are better off - those who can evaluate our arguments, or those whose stock drops but they don't understand why?"(ref. Twitter).

Solutions 30 issued a press release on May 20, taking notice of Muddy Waters Capital LLC short position and reaffirming its confidence in its activities and business model (ref. GlobeNewswire).

Muddy Waters Capital does not appear often in our EU short selling records. Previously, Muddy Waters Capital popped-up with short positions in IQE, Stroer, Casino Guichard-Perron and Rallye. All these short positions were accompanied by public activist short reports, but were not held above 0.5% as long as Muddy's current short.

Short Positions in Solutions 30 by Muddy Waters and Bodenholm

Solutions 30 has the highest disclosed short interest in IT Services & Consulting sector in our EU short positions tracker. Lansdowne Partners (UK) LLP, the holder of the biggest short in Solutions 30, holds two more short positions in the same sector.

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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 2019-08-02.

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