Thomas Cook crisis: Hedge funds made record profits on company's collapse as firm folded

  • 📰 Daily Express
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 68%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

INTERNATIONAL hedge funds who shorted Thomas Cook shares have made enormous profits from its collapse by betting against the travel giant’s efforts to find a deal to save the world’s oldest travel operator from going bust.

Two hedge funds, London-based TT International and Whitebox Advisers, from Minneapolis – made up the bulk of the shorts, together holding around 7 percent, according to ShortTracker data.share price, which plunged 85 percent in the six months before Sunday’s collapse.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

They saw it coming, just like the bosses at TC who creamed off bonuses and continued taking bookings knowing the inevitable would eventually happen.

Good on them. They made a bet. They won. ThTs what their business is

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 26. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines