(Bloomberg) Betting against Prada SpA is becoming an expensive business. Shares in the luxury retailer jumped a record 23 percent in Hong Kong on Monday after the company predicted sales will recover this year. The surge wiped out about 242 million Hong Kong dollars ($31 million) from the value of speculators’ bearish bets, according to data compiled by Bloomberg and IHS Markit Ltd.
Prada Short Squeeze Wipes Out $31 Million From Hedge Fund Trade
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