TotalEnergies Short Position Disclosed by Elliott, FT Reports
The French oil major TotalEnergies has disclosed a EUR 670M short position against itself, reported Financial Times. The hedge fund Elliott Management has taken a significant bet against the company's stock, worth 0.52% of TotalEnergies' market capitalization. This move may signal concerns about the company's financial health and its ability to weather global energy market fluctuations.
- A growing trend in the energy sector is the increasing use of short-selling by activist hedge funds as a means to pressure companies into reforming their business models or improving operational efficiency.
- Will this wave of short-selling lead to a broader crisis in the energy industry, potentially impacting investor confidence and leading to further market volatility?