Hedge fund titan Crispin Odey had a huge short bet on Wirecard — and may have been hammered by the stock's surge after Softbank's investment

British hedge fund titan Crispin Odey's fund may have lost millions on its short bets on German tech company Wirecard.

Odey Asset Management, led by Brexit supporting hedge fund titan Crispin Odey, may be one of them. As of February 19, Odey Asset Management held a short position of 0.56% in Wirecard which amounted to approximately €83.2 million based on the German payment processor's then share price of €120.25. While Odey Asset Management may have exited some or all of its short position in Wirecard since February 19, if it still held 0.56% it would have lost approximately €10 million based on Wirecard's current share price.

The fund holds around 20 shorts on European companies at present, according to data from Breakout Point.in the Financial Times which highlighted alleged accounting discrepancies in the company's Singapore offices.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wirecard lands $1 billion investment from Japan's SoftbankJapan's Softbank Group Corp will buy a 5.6 percent stake in Wirecard for ar...
Source: Reuters - 🏆 2. / 97 Read more »

Uber wins $1B investment from Toyota, SoftBank fundJapanese car giant Toyota and investment fund SoftBank Vision Fund have unveiled an investment of $1 billion in US ride hailing company to develop self-driving vehicles.
Source: trtworld - 🏆 101. / 63 Read more »

German market regulator lifts short sale ban on WirecardGermany's markets regulator Bafin on Friday said its two-month ban on short...
Source: Reuters - 🏆 2. / 97 Read more »