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CRH and Dalata targeted by short sellers amid crisis

US hedge funds including Bridgewater Associates take short positions in building materials giant and hotel firm

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Albert Manifold, CEO of CRH. Photo: Gary O' Neill

Albert Manifold, CEO of CRH. Photo: Gary O' Neill

Albert Manifold, CEO of CRH. Photo: Gary O' Neill

Shares in Ireland's largest company, building materials giant CRH, as well as its biggest hotel group, Dalata, have been shorted by investors as the Covid-19 pandemic sees the world's economies hammered.

When investors short a share, they are betting the price will drop.

They borrow the company's shares from other shareholders and can profit if the price falls by buying back shares at a lower cost, to return them to their original owner.