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Sirius Minerals SXX Short selling against Sirius hit a record high last week as it tried to secure funding for its huge potash mining project in North Yorkshire. Sirius hoped to raise £2.4bn by April but in September it warned that it would need to raise an additional £400m.. Last week it issued its fourth quarter update and the sharks started a feeding frenzy led by. hedge fund Citadel, which is one of the top six short sellers to disclose a position against Sirius. Last week Sirius became one of the top 10 most shorted stocks in the UK, with 12.36pc of its shares on loan. Other famous names to join the feast included JP Morgan Asset Management and Och Ziff . Meanwhile the Telegraph reported that Citidel founder Ken Griffin last week “snapped up” a Grade II listed mansion near Buckingham Palace for £95m, and “just days later” paid a record $238m (£182m) for a New York apartment. As for the shares they have halved in value since September from a high of 38.7p to Fridays closing price of 19.87p and it seems there may be little prospect of an improvement despite the huge potential.
TI Fluid Systems plc TIFS expects to report revenue of approximately €3.5 billion for the year ended 31 December 2018. On a constant currency basis, revenue growth is expected to exceed growth in global light vehicle production by approximately 3.0%. Full year results are expected to be in line with the expectations announced in the third quarter up date but as a result of strong second half cash generation adjusted Free Cash Flow for the full year is now anticipated to exceed expectations.
Minds & Machines Group Limited MMX updates that for the year to the end of December domains under management grew by 37% to over 1.81 million. Operating EBITDA for the full year is expected to be marginally ahead of market expectations. “The CEO says that strong sales in quarter 4 allowed management to deliver on its strategy of transforming MMX into a stable, growing, cash generative business and that the significant momentum created last year has continued into the early part of 2019.