Short Sellers Lose Again as Australian Travel Agency Shares Soar
- Flight Centre shares surged 10 percent in Wednesday trading
- More pain for short-sellers as the company’s outlook improved
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Viola Lee, an architect planning a holiday, is one reason that hedge funds and speculators are once again on the losing side of a trade betting on a collapse in shares of Flight Centre Travel Group Ltd.
She’s back again at one of the firm’s Sydney travel agencies, part of a network of 680 stores in Australia, for help planning a trip with flight stop-overs from Australia to Turkey via the Middle East and Greece. And she’s willing to pay up for the service, rather than buy the tickets herself online.