CSG Shares Close 13% Lower After Short-Seller Report in Worst Day Since IPO
12 Articles
12 Articles
The Czech defense company CSG, listed on the Amsterdam stock exchange, ‘strongly disagrees with the conclusions and claims presented’ in a report by Hunterbrook. This investigative platform announced on Monday that the defense supplier had allegedly embellished its sales figures. There were also reports of infighting at the top of the company.
The arms company Czechoslovak Group, which went public on the Amsterdam stock exchange in January, was at one point losing a quarter of its value in a single trading day on Monday. In the afternoon, its shares were trading at around 15 euros, about 16 percent lower than before trading began.
At the border between an investigative media and a hedge fund, Hunterbrook takes the ammunition manufacturer who recently introduced himself into a band in Amsterdam. CSG contests the accusations and publishes a detailed response to the attacks without being able to straighten the bar on the stock exchange.
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