Wall Street billionaire Ken Griffin bets £27m against Deliveroo

US billionaire investor Ken Griffin has taken a multimillion pound short position against meal delivery firm Deliveroo.

Citadel Advisors reportedly opened up a bet against Deliveroo’s stock in February which has since increased to around 1.4% of the company’s shares which are being held short.

Griffin, who is worth around £28bn, founded Citadel in 1990, with the investment firm now controlling more than $60bn (£48bn) in assets.

Deliveroo’s stock soared to a 12-month high this week, settling at around £1.10 after climbing 3.4% in Friday.

Despite consumers cutting down on the number of takeaways they have ordered, the booming price of food has boosted revenues at the delivery firm.

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Even as consumers have cut down on the number of takeaways they have ordered, the soaring price of food has boosted revenues at delivery companies such as Deliveroo.

The firm reported that revenues climbed up 7% to £512m in the first quarter of 2023.

Meanwhile, the average value of its orders also climbed up by 12% as food inflation jumped.

Will Shu, Deliveroo’s founder and CEO, said on Thursday that the company had delivered “resilient performance, particularly in the context of inflationary pressures and the ongoing cost of living crisis.”

Jefferies analysts said the results were “solid when compared with expectations” and a “validation” of Deliveroo’s “strategy and execution”.

Deliveroo is now worth around £1.9bn, making Citadel’s short position worth £27m.

According to regulatory findings, the only other fund to take out a significant short position in Deliveroo is Marshall Wace.



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