Seeking Alpha

Chanos: CGI one of "largest short positions"

  • James Chanos counts CGI Group (GIB -1.6%) among his "largest short positions," NewsWeek reports. In a 10-page client memo, Chanos cited declining cash flow, falling new business bookings, questionable accounting practices, and the "PR mess" surrounding as reasons for his position.
  • An increasing amount of investors are on board the short train: although 1.7% of shares outstanding were shorted as of Nov. 15 on the NYSE, 29.9M shares in Toronto had been sold short (almost 11% of shares outstanding), FactSet data shows.
Comments (1)
  • If I were a shorty, I'd too
    4 Dec 2013, 10:04 AM Reply Like
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