Boohoo plunges to loss and cuts guidance

To put it mildly, the outlook does not look good for Boohoo (BOO). As well as revealing a worse-than-expected first half, the company cut its guidance for the full-year as clouds darken for consumer spending. And since late-August the online fashion retailer has been the most shorted London-listed stock, itself not a position that instils confidence. The shares trade heavily below their 50p IPO price, and it is hard to see how the company gets out of its value trap hole.