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ASOS PLC

ASOS shares come under pressure as short-sellers tighten the screw

Since the start of August, three investment firms have increased their short positions in the online fashion giant

ASOS PLC - ASOS shares come under pressure as short-sellers tighten the screw
The company's stock has plunged 64% in the last 12 months amid multiple profit warnings

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.

READ: Berenberg's scoops from the retail front line: sell Asos buy ABF

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.

Quick facts: ASOS PLC

Price: £26.13

Market: AIM
Market Cap: £2.19 billion
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