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Opinion
Andrea Felsted

Don't Blame Short Sellers for THG's $2.6 Billion Problem

The British e-commerce company has to do a lot more to reassure investors about its SoftBank-tied Ingenuity business.

When it rains, it pours.

When it rains, it pours.

Photographer: , Christopher Furlong/Getty Images Europe

“Well, what a year,” said Matthew Moulding, chairman and chief executive officer of THG Group Plc, the seller of protein shakes, skincare and designer clothes, as he introduced an investor event on Tuesday.

The British e-commerce company has had a rough ride since its 4.5 billion-pound ($6.1 billion) initial public offering in Sept. 2020. And it was about to get worse: Its shares slumped 35% after the meeting, wiping 1.9 billion pounds off of the group’s market capitalization.