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Hedge Funds Raise Bets Against H&M After Worst Year Since 2000

  • AQR is among hedge funds betting against the Swedish retailer
  • H&M CEO says he expects improvement in 2018; 1Q may be weak
Updated on

Hennes & Mauritz AB shares plunged 33 percent in 2017, marking their worst year since the beginning of this century. But short trading data shows hedge funds are expecting the Swedish fashion retailer to keep falling.

Short interest in H&M is now above 9 percent of outstanding shares, according to Markit data. A year ago, it was only 4 percent. Shares in the Stockholm-based company fell about 1.5 percent on Thursday, their biggest decline in more than a week.