Singapore Airlines Is Now Most Shorted Stock in City-State

Bearish bets have risen sharply on Singapore Airlines Ltd. shares, making it the most shorted stock in the city state as the carrier posted its biggest ever quarterly loss in the wake of the coronavirus pandemic.

Investors have become increasingly pessimistic about holding the stock, with short interest as a percentage of carrier’s free-float shares more than quadrupling to 15.5% since mid-March, according to data from IHS Markit. The company’s stock price has dropped 40% this year, almost double the decline in the nation’s equity benchmark.