Arm of BlackRock builds up €20m short bet that Glanbia shares will continue to fall
Food company’s stock price has swung up and down since start of pandemic with performance nutrition products hit hard
An arm of BlackRock, the billion-dollar American investment firm, has built up a €20 million short bet that the shares in Glanbia, the Irish food company, will continue to fall in price.
Filings with the Central Bank show that BlackRock Investment Management has taken a 0.65 per cent short position, which at Glanbia’s current share price of just over €10.70 values the stake at around €20 million.
A short trade is a risky transaction...
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