Swatch Group AG shares jumped after Chief Executive Officer Nick Hayek soothed investor nerves over the impact of Donald Trump’s tariffs on the watchmaker’s US business.
Swatch
Hayek told investors on a call that the US watch market remains strong and that Swatch has raised prices and built up inventories to help cushion the impact of the 39% US levy on Swiss exports, Citigroup Inc. analyst Thomas Chauvet said in a note.
Swatch declined to comment on the CEO’s remarks on the call, which was held with analysts and investors.
Swatch shares have been targeted by short sellers this year. Shares out on loan, an indication of short interest, represented about 9% of the company’s outstanding shares as of Tuesday, according to data from S&P Global Market Intelligence.
