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27 Jan 2021 | 10:33

Heavily-shorted education publisher Pearson surges

(Sharecast News) - Shares of education publisher Pearson surged on Wednesday, with traders pointing to a short squeeze. At 1020 GMT, the shares were up 11.8% at 851.20p.

CMC Markets analyst David Madden said: "There is no new news about the publishing company but it is known that a relatively large amount of the stock has been shorted, so it is possible that we are witnessing a major short squeeze.

"Recently, the US group GameStop, has undergone erratic moves as there is a tussle between short sellers and buyers. It might be the case that funds are flowing into Pearson to shake out some of the short sellers."

Other heavily shorted stocks were also on the rise, with French real estate investment trust Klepierre and commercial real estate company Unibail-Rodamco up 17% and 13%, respectively. Polish video game developer CD Projekt and cinema chain Cineworld, which are also heavily shorted, were up 7.8% and 14%, respectively.
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