// Short-sellers’ bets against Boohoo hit a record high last week
// The positions built by hedge funds, which make money if share prices fall, rose to 8.7%, amounting to about £45m
Short-sellers’ bets against Boohoo have hit a record high after the inflation crisis affects retailers across all sectors.
The positions built by hedge funds, which make money if share prices fall, rose to 8.7%, amounting to about £45 million, before dropping back down to 8.1% on Friday, This is Money reported.
Boohoo’s shares have already tumbled two-thirds this year, with an investigation into greenwashing by the CMA.
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Activists have accused the fast fashion brand of “greenwashing” after polyester trousers and miniskirts are among items included in its sustainable range are breaking Boohoo’s own rules, i news reported.
However, Marshall Wace, Citadel, Capeview and Ennismore are among well-known hedge funds that believe Boohoo has further to fall
Boohoo recently teamed up with Kourtney Kardashian Barker to hire her as the sustainability ambassador, releasing two sustainability-focused capsule collections.
The first 45-piece line will feature a number of pieces made from recycled fibres, two vintage pieces and were unveiled during New York Fashion Week on September 13 at a see now, buy now presentation.
