Hut Group talk sparks £1.9bn loss | Business – The Times

A key investor presentation intended to soothe City jitters over The Hut Group backfired spectacularly yesterday when it was followed by a barrage of sell orders and £1.9 billion was wiped from the company’s value.

Matt Moulding, co-founder, chief executive and executive chairman of the online retailer, said at the start of the virtual meeting that he intended to set the record straight about the scepticism over the company’s Ingenuity platform — doubts that have already led to some short-selling attacks on the company.

Instead of calming the nerves of investors, his comments appeared to exacerbate them. THG shares, which had been tracking around 2 per cent lower before the presentation, dived during it and went into freefall in the hours afterwards. They crashed by

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