(The Guardian) A collection of hedge funds have lost more than £30m in a single afternoon after shares in Home Retail Group, the owner of Argos and Homebase, rose on the news that Sainsbury’s had made a takeover approach. Hedge funds have bet heavily against Home Retail by shorting the shares, gambling that Argos will come under pressure from Amazon and fierce competition on the high street.
Hedge Funds Lose Millions As Argos Owner’s Shares Rise 41%
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