Viridien stock plunges 11.5% in one week, heavy bearish bet from funds
The geosciences and subsurface imaging specialist is losing ground at midday, in a Paris market under pressure amid French budgetary uncertainty. The decline is part of a particularly difficult week for the stock, which is experiencing one of the most severe corrections in recent periods.
A decline that widens the gap below the two main moving averages
The Viridien stock is down 3.07% during the session at €85.30, accelerating a weekly decline of 11.33%. The stock is now trading well below its 20-day moving average at €91.62 (gap of 6.90%) and its 50-day moving average at €89.80 (gap of 5.01%), two levels it has failed to reclaim over several sessions. Brent, meanwhile, is rising 2.16% during the session to $100.15 per barrel, failing to support a value whose cycle remains closely tied to oil prices. The next support level to watch is set at €82.60, approximately 3% below the current price.
Net short positions at 8.85% of capital, rising sharply over one month
The downward pressure is not only visible in the stock price. According to filed disclosures, nine funds hold a combined net short position of 8.85% of capital, up 2.35 percentage points over thirty days (compared to 6.50% a month ago). This level, among the highest in the SBF 120, reflects institutional bearish conviction that has notably strengthened over the recent period.
The CAC 40 is down 1.35% during the session, in a context where the yield on the French ten-year bond has reached 4.86%, approaching the peak of 4.87% observed in 2008, and where the spread with the Bund has widened to 1.17 points, its highest level since 2012. The analyst consensus on Viridien remains to be monitored in this context of multiple pressures, while the stock remains, over one year, up 33.39% despite the ongoing consolidation.
