Against the odds, seven of the Australian sharemarket’s most-shorted stocks – from a pharmaceutical group and an intellectual property company to a data centre operator – have left hedge funds staring down $1 billion in potential losses.
It comes as hedge funds have been ratcheting up their bets against Australian companies, with aggregate short positions jumping 60 per cent since the start of the year to $61 billion, according to ShortMan, which sources its data from the Australian Securities and Investments Commission.
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