GN price spikes might be an overreaction, says bank

A rumored purchase story sent the GN stock sky-high, but Handelsbanken says this might partly be due to short-selling investors trying to minimize losses.

Photo: PR/Handelsbanken

The recent upswing in the GN Store Nord stock is largely due to the firm’s stock being very shorted prior to the rumored purchase story from last week, Handelsbanken concludes in a Tuesday note.

GN Group has been riding a stock exchange wave since the story broke, which said that the firm was on the way to being bought up by international private equity firms or industrial players with the intention of delisting the firm.

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