Here’s Why Greggs, Ibstock, Wizz Air, Ocado and Future Are the Most Shorted London-Listed Shares

Short interest in the UK market remains concentrated in companies facing structural industry shifts and persistent macroeconomic pressure.

Greggs (LON: GRG) remains top of the list, with a 12.6% short interest. Despite ongoing revenue growth, major institutions, including JPMorgan Asset Management and Citadel Advisors, are positioned for a continued valuation pullback. Greggs shares are down 23.9% in the last 12 months.

Analysts recently noted that sentiment has weakened amid the rising adoption of GLP-1 weight-loss drugs, which could reduce consumer spending on high-calorie “food-to-go” categories.

Ibstock (LON: IBST) follows with 9.2% short interest. The brickmaker has been hit by a weaker than expected construction backdrop as elevated UK interest rates continue to cool residential development. Flat volumes and repeated a soft profit outlook have drawn short positions from funds such as BlackRock and JPMorgan.

In aviation, Wizz Air (LON: WIZZ) sits at 9% short interest. It has been pressured by ongoing Pratt & Whitney GTF engine issues that forced parts of its fleet to be grounded. However, Citi analyst Conor Dwyer recently said the airline's traffic looks a little soft, as load factor weakened on a year-over-year basis despite rising passenger numbers in January. 

Short-sellers are also targeting Ocado Group (LON: OCDO) (6.9%), which is shifting toward a technology-licensing model. Investor concerns intensified after a Canadian partner shut a fulfillment center, raising questions over the pace of international expansion.

Rounding out the top five, Future plc (LON: FUTR) (6.6%) has seen its stock plunge as it continues to contend with challenging trends in programmatic advertising and e-commerce, alongside broader worries about AI’s impact on digital publishing.