Pursuits
Short Sellers Target Turkish Airlines as Tourism Trade Wilts
- Short selling as Percentage of Free Float is Highest on Record
- Bets Against Turkish Airlines Spike After Record Visitor Drop
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Short sellers are targeting Turkish Airlines as it presses on with expanding capacity while the country’s tourism industry withers.
As much as 13.8 percent of the company’s shares that are available for trading are out on loan to short sellers betting they will fall in value, according to Markit Ltd. That’s the highest on record for Turkish Airlines, making it the most-shorted developing-nation carrier after Panama’s Copa Holdings SA, Bloomberg calculations based on the data show.