Nov 4, 2018

Short-sellers take aim at Apple tech supplier IQE

Last week, IQE - the South Wales technology business whose shares have more than trebled in two years - moved to the top of the short-sellers leader board alongside retailers Debenhams, Marks and Spencer and Pets At Home. IQE's ranking is surprising, not just because it is a British tech fairytale making gizmos for Apple iPhones, but also because it is a junior market tiddler. Coltrane Asset Management of New York raised its short position in IQE more than 3.5 per cent last month, according to trackers of short interest. Under Drew Nelson, IQE's co-founder and chief executive, IQE recruited new auditors to verify the numbers and was largely successful in allaying concerns over its bookkeeping. Since IQE makes most of the wafers that go into VCSELs, its revenues could double in a couple of years.

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