Anglo's Shadow Hangs Over Glencore Investor Day as Shorts Circle
- Commodity rout, Glencore's debt burden luring short interest
- Shorting ahead of investor day a risky call, says analyst
Is Anglo American a Takeover Target?
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Short sellers sensed something was amiss at Anglo American Plc this month, pushing bearish bets against the miner to a record high on the eve of yesterday’s investor meeting. It paid off when the stock plunged 12 percent after announcing a dividend cut.
Are they on to something at Glencore Plc too? Short interest has been rising ahead of the Swiss company’s shareholder day tomorrow, climbing to a two-year high of 5.3 percent of shares outstanding, according to Markit Ltd.