George Soros and Citadel among winners as Trainline shares plunge
Shares in ticket seller Trainline fell 33% on Thursday, after the UK presented a rail infrastructure plan that would include operating a rival ticketing app.
Trainline TRN,
has been bypassed by a number of top investors, including billionaire investor George Soros’ SFM UK Management, Citadel Europe and Connecticut hedge fund Paloma Partners, according to the Financial Conduct Authority’s short position register .
The new Great British Railways system will allow passengers to book all journeys from a single location, with a single clearing system for refunds. Trainline’s commission rates are guaranteed until 2024.
“This has two implications for Trainline – potentially a lot of people will be buying tickets from this new centralized body and if the old labyrinthine ticket pricing system is made easier to navigate, the company will have less of a role to play in helping passengers navigate. find the best available price, ”said Russ Mold, director of investments at AJ Bell.
“The company now faces a two-year deadline to somehow maintain its relevance under the new setup. It will not be an easy task, ”he added.
The FTSE 100 UKX,
rose 0.6% at noon, rebounding from a 1.2% drop on Wednesday. A day after reporting organic revenue growth at the high end of its forecast range, Experian EXPN credit checker,
stocks rose more than 4%.
Antofagasta ANTO copper miners,
and Fresnillo FRES,
fell after Wednesday’s drop in copper futures.