Reported 3 days ago
According to Hazeltree data, hedge funds identified WH Smith as a prime short-selling target in July, prior to the retailer's disclosure of an accounting error that led to a 45% drop in its shares. Following a financial review revealing a £30 million overstatement in expected profits, WH Smith adjusted its profit outlook, attributing significant pressures to rising debt and global economic challenges in the travel sector.
Source: YAHOO