VGI under water on Corporate Travel short
Hedge fund VGI Partners is under water on its Corporate Travel Management short for the first time since it went public with its bet against the listed travel agent more than three months ago.
Corporate Travel shares surged 15 per cent on Wednesday after the company stuck to its guidance for $150 million in underlying earnings before interest, tax, depreciation and amortisation for 2018-19. The stock closed $3.69 higher at $28.81.
First-half statutory net profit rose 27 per cent to $...