Profit Warnings & Fire Bring Asos Under A Storm Of Shorts

Online fashion clothing retailer ASOS plc (LON:ASC) (OTCMKTS:ASOMF) is once again in the sights of shortsellers. The U.K-based company has accumulated a short interest of above 5% according to Markit, FT reports. This is apparently the largest bearish bet the company has faced in nearly two years.

Shorts rise in Asos after profit warning

Jim Chanos' Kynikos Associates has been betting against the fashion retailer. However, Chanos cut his bet to less than 0.5% of ASOS plc (LON:ASC) (OTCMKTS:ASOMF)'s outstanding shares in the first week of June. Asos is one of his profitable short bets as the stock has suffered a loss of 50% in the first half of the year....