Games Workshop Faces Short-Selling Pressure

By the Editorial Team · Friday, October 2, 2026

Games Workshop’s shares fell sharply by 6.2 percent after reports surfaced that Dragoneye Research was targeting the company with potential short-selling allegations. This decline marked the steepest fall among FTSE 100 stocks and highlights increased market scrutiny that could impact investor confidence.

Games Workshop, the Nottingham-based manufacturer of Warhammer miniatures, experienced significant selling pressure in early October as concerns emerged about potential short-selling activity targeting the company. Shares in the FTSE 100-listed firm dropped £11.20, or 6.2 percent, closing at £168.70, making it the steepest decliner among the leading London stock market stocks on the day.

City sources indicated that Dragoneye Research, known for publishing reports aimed at short-sellers, had focused its scrutiny on Games Workshop. The group previously issued critical reports on other major companies, including Smith & Nephew, a medical device maker in the FTSE 100, which faced similar allegations regarding accounting practices that it has denied. Games Workshop did not respond to requests for comment on the situation.

The broader market also showed weakness amid a sell-off in government bonds. The FTSE 100 index declined by 177.73 points, or 1.68 percent, to 10,428.27. Among other notable falls was British American Tobacco, which dropped 145 pence, or 3.5 percent, to £39.84 following the implementation of a new UK tax on vape products. Banking stocks contributed to the downward trend amid investor concerns over a potential new bank tax.

In contrast, BP was among the few gainers in the FTSE 100, rising by 7.75 pence, or 1.4 percent, to 557 pence. The oil giant benefited from a more than 4 percent increase in Brent crude prices, which climbed to $102.60 per barrel. This price surge followed reports that Chinese refiners ceased exports to regions outside Hong Kong and Macau amid fears of supply shortages.

The FTSE 250 index also fell, retreating 396.78 points, or 1.6 percent, to 24,143.21. TP Icap, the largest global inter-dealer broker, saw a 6 percent decline to 321.5 pence after going ex-dividend, with some analysts attributing the fall to profit-taking following a recent upbeat recommendation from JP Morgan.

Housebuilding stocks came under pressure despite a recently announced Help to Buy-style scheme. Bellway fell 118 pence, or 5.3 percent, to £20.94, Persimmon dropped 67 pence, or 5.1 percent, to £12.48, and Taylor Wimpey closed 4.75 pence, or 5.5 percent, lower at 81.25 pence.

In the mid-cap sector, Harbour Energy, a North Sea oil and gas producer, was among the top risers, gaining 13.25 pence, or 5 percent, to 276.25 pence, buoyed by the rise in crude oil prices.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.