The escalating threat posed by a global trade war is taking its toll on the shares of the world’s largest containerline.
Citing IHS Markit data, Bloomberg is reporting that as of last Friday, short interest in A.P. Moller-Maersk has leapt to around 6% of the company’s share capital, the highest on record since the data provider started tracking the Danish carrier’s shares in 2006.
Maersk has lost more than 20% of its market value this year on the back of struggling results.
Among many hedge funds reviewing their options is AQR Capital Management. A July 18 regulatory filing showed the firm has a short position equal to 0.5% of Maersk’s share capital.
Maersk is due to publish its second-quarter results on August 17. It warned a couple of months ago that “increased uncertainties due to geopolitical risks, trade tensions and other factors,” may affect its ability to deliver on its full-year guidance.