Odey Asset Management, led by Brexit supporting UK hedge-fund titan Crispin Odey, may have lost millions of euros shorting Wirecard's stock.
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.
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