The 5 Most Shorted London-Listed Stocks Heading into Year End (PFC, OCDO, WG, AWE, DOM)

As the festive season approaches, short sellers are still searching for what they believe are overvalued London-listed stocks, betting that share prices have further room to fall. 

From energy services to online retail and fast food, these five companies are the most shorted London-listed names heading into Christmas:

1. Petrofac (% Short: 5.7%)
Petrofac is an oilfield services provider. Most recently, its stock price fell after its first-half results disappointed investors. 

The company, which designs and operates oil and gas facilities, remains under pressure despite cost-cutting measures and restructuring efforts. As of December 16, the stock is down over 70% for the year to date.

2. Ocado Group (5.7%)
Online grocery and technology business Ocado has seen its share price slide this year amid concerns over profitability and competition in the e-commerce sector. 

While its innovative warehouse robotics business has attracted global partnerships, the stock was demoted from the FTSE 100 earlier in the year as many investors continue to bet against the stock. Ocado shares are down close to 59% so far this year.

3. Wood Group (John) (5.2%)
Wood Group, a multinational engineering and consulting firm in the energy and industrial sectors, continues to face investor skepticism. 

While the stock is down 60% this year, its shares plummeted in early November after the company said it had turned to Deloitte to perform an independent review following exceptional contract write-offs. Some investors still see further downside. 

4. Alphawave IP Group (5.2%)
Alphawave IP, a semiconductor and connectivity solutions provider, has faced turbulence this year, with its stock down 20% for the year to date. 

In September, it fell more than 13% after its revenue dropped significantly, and it cut its full-year sales guidance to between $310 and $330 million, down from the $345 to $365 million it had projected earlier. Six firms are currently short the stock, including GLG Partners and Linden Advisors.

5. Domino’s Pizza Group (5.1%)
Britain’s Domino’s Pizza Group has seen its shares decline over 20% in 2024, with the stock currently the fifth most-shorted in London. 

In August, the stock fell after the company lowered its full-year profit forecast after deciding to pass on expected lower food costs to franchisees and offer more value deals to customers.