Shorting the stock of the world’s largest listed shipping company during a global trade war may seem like a sure bet. But the investors who’ve loaded up on the trade since April have so far only been handed big losses.
Shares representing just under a third of A. P. Moller-Maersk A/S’s free float are currently out on loan, according to S&P Global Market Intelligence, the highest level since data collection began in 2014. The measure, which is indicative of short interest, is up from about 15% at the beginning of April, when US President Donald Trump announced sweeping plans for import duties on all US trading partners.