Reuters – Some hedge funds are holding fire on Tesco in the wake of its accounting scandal and share price slide, with at least one fund cutting its short position as investors assess the potential for a rebound.
Although bearish bets on the world’s third-biggest retailer have ticked up over the past week, short interest is down from its March highs. This suggests some speculative investors are reluctant to step up aggressive bets on a stock that has fallen nearly 20 percent in little over a week, is cheaply valued and may have turnaround potential.
