Shares in online fashion giant ASOS PLC (LON:ASC) sank in mid-afternoon trading on Thursday as the AIM 100 firm came under renewed pressure from short-sellers.
According to website ShortTracker, since the start of August three investment firms, AQR Capital Management, Gladstone Capital Management and Marshall Wace have all increased their short positions against the firm.
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Gladstone has seen the biggest increase, adding 0.13% of the shares to its short position, which now stands at 1.24%.
The added pressure sent some investors heading for the door, with the stock falling 4.7% to 2,193p.
ASOS, once AIM’s largest company, has seen its fortunes suffer over the last 12 months as a string of profit warnings has sent the stock plunging 64% and wiping about £200mln from the net worth of its founder Nick Robertson.