(Bloomberg) Stock traders who stuck with China’s most painful short sale are finally getting some relief. After suffering through a 953 percent rally in shares of Yirendai Ltd. since mid-February, hedge funds and other bearish speculators were rewarded in the four days through Wednesday as the Chinese peer-to-peer lender sank 35 percent in U.S. trading. Holding on to the trade has been especially costly after annualized borrowing rates for Yirendai shares jumped to about 40 percent, the highest level among big Chinese companies tracked by IHS Markit Ltd.
Hedge Funds Suddenly Winning on China’s Most Dangerous Short
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