Hedge funds are on edge about a collective $215 million short position in appliances maker Breville Group, worried they’re about to be scorched by a raging market.
The skittishness was there for all to see on Tuesday, when a seemingly innocuous broker upgrade and strong sales numbers at Myer sent Breville’s shares flying.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
