Short Sellers Pile Into UK Bakery Chain Greggs
The food retailer aims to expand to more than 3,000 stores across the UK in the coming years.
Photographer: Jason Alden/BloombergShort sellers are betting against Greggs Plc at levels not seen since the global financial crisis, as the UK bakery chain struggles to convince investors that opening more shops will boost lackluster sales.
Greggs stock out on loan — an indication of short interest — reached 9.3% of shares outstanding as of Wednesday, according to data from S&P Global Market Intelligence. That’s the highest since March 2008, with the bulk of this year’s activity occurring in the past four months.