Shorts pile into cash-strapped Lonmin as platinum flounders

The last time there was so much short-selling on Lonmin Plc, the platinum miner was weeks away from a life-saving rights issue. At 14% of the total outstanding shares, Lonmin is the seventh-most-shorted stock on the 645-member FTSE All-Share Index, according to data compiled by Markit. That figure has doubled since May 11, as the stock dropped 43%.