The chances of an Abrdn short squeeze cannot be ruled out due to growing short interest in the company. This came after the company was accused of failing to carry out anti-money laundering checks following the revelations that its Luxembourg unit was missing documentation for some clients.Ībrdn’s demotion from UK’s blue-chip FTSE 100 to second-tier FTSE 250 following the stock’s 43% year-to-date slump, as of 17 October, added salt to the wounds of the UK-based investment giant. In early October, a Sunday Times report suggested that CEO Stephen Bird may not have the support of his staff as several employees at abrdn have blamed him for “aggressive and intimidating behaviour”. In an opinion column for the Financial Times, UK business columnist Cat Rutter Pooley said “abrdn is a victim of more than sectoral decline.” While rival investment firms, including Ashmore Group and Hargreaves Lansdown, have seen similar struggles in 2022 due to the macroeconomic environment, abrdn has emerged as the biggest loser among the trio amid internal setbacks. “Current market uncertainty means our ambitions for revenue growth and improved cost/income ratio are likely to take longer than originally expected.” US30 US Wall Street 30 (USA 30, Dow Jones)
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