Short sellers release pressure on construction outsourcer Kier Group
A PERIOD of sustained pressure from short sellers on contractor Kier Group has come to an end, with hedge funds cashing out on the company's stock market woes throughout December.
At the end of November, 13.98 per cent of Kier's shares - worth £102m - were held by short sellers betting against the company. That figure has reduced to 3.64 per cent in six weeks, meaning short sellers now hold just £30m of the company's £833m market value.
Investors short stocks when they believe a c...