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Europe’s Most-Shorted Stocks Surge, Led by Evotec, Pearson

  • Moves follow U.S. rally in Reddit trader favorite GameStop
  • Mall owner Unibail, video-game maker CD Projekt also gain
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Some of Europe’s most-shorted stocks surged again on Wednesday, led by Evotec SE and Pearson Plc, in an echo of a similar rally in the U.S., where retail investors have battled against short sellers by piling into names like GameStop Corp.

Shares in Evotec surged as much as 30% on Wednesday after the drug discovery and development firm won a $28.6 million U.S. contract, though it pared the gain to 2.4%. Bearish speculators have sold short 17.4% of the company’s shares available for trading, according to data from IHS Markit Ltd. The stock jumped 10% on Tuesday.