AO World PLC shares edge higher as billionaire financiers indulge in

Struggling online retailer AO World PLC (LSE:AO.) is attracting some interesting names to its shareholder register.

Today it was revealed that Nicholas Roditi, once an acolyte of billionaire financier George Soros, has built a 3.63% stake.

This follows news last week that Odey Asset Management controlled 12.57% of AO World’s equity.

According to the Financial Conduct Authority’s daily short positions report, AO World is currently the fifth most shorted stock in London, with 5.6% of the company’s shares lent out by institutional investors to parties willing to sell those shares in expectation of being able to buy them back later cheaper and return them to the lending institutions.

Among those shorting the stock are Marshall Wace LLP, which has a short position of 1.48%, and Citadel Europe, another hedge fund, which has a net short position on AO World equivalent to 0.63% the retailer’s issued share capital.

All of these investment companies are guided by phenomenally wealthy individuals and they are kicking the AO World share price around like it is a football.

AO World’s shares currently trade at 103.6p, down from 324p a year ago but up 3.3% today.

READ AO World could shrink to exclude Germany

The company initially did well during the lockdown as shoppers switched to online retailers to buy their white goods but things have not gone well for the company in Germany, where it was hoping to repeat its British success. The company recently announced it is considering withdrawing from Germany.