Dagens industri: Rusta Faces Short-Selling Surge After Profitability Drop

Following a disappointing quarterly report, Rusta, the retail chain, is facing increased short-selling pressure, according to Dagens industri. The scrutiny intensified on Friday, September 26th, with the disclosure of new short positions by AAT Invest, the Norwegian investment firm led by Aasulv Tveitereid, and JP Morgan Asset Management. AAT Invest declared a short position representing 0.52% of Rusta's shares, while JP Morgan Asset Management registered a 0.50% position. This activity contributes to a growing trend, bringing the total percentage of shorted shares in Rusta to 2.1%, a significant rise from 0.6% prior to the company's September 11th quarterly report. The quarterly report revealed increased sales but a marked decline in profitability. While the outgoing CEO attributed this to temporary currency fluctuations, the market reacted negatively, causing Rusta's stock to fall by 13.5% on the day of the announcement. Despite positive analyst commentary and substantial insider purchases, the share price has continued its downward trend.