Chanticleer
How short sellers won big on story of housing market pain
IDP Education plunged after the full extent of immigration restrictions in Australia, Canada and Britain became clear. It hopes the pain will be short-lived, but that will depend on house prices.
It’s the bad news that investors in IDP Education have been bracing for – and the growing army of short sellers attacking the $4 billion firm have been betting on.
Shares in IDP, which provides student placement and English language services for international students in Australia, Canada and Britain, plunged by as much as 12 per cent in early trade on Thursday morning, after the company finally put some figures around the pain caused by dramatic changes in immigration policies around the world.
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