Hindenburg Research Targets Equinix In New Short Report Claiming Data Center Firm Is Selling 'AI Pipe Dream' (UPDATED)
Portfolio Pulse from Adam Eckert
Hindenburg Research has published a short report on Equinix Inc (NASDAQ:EQIX), alleging inflated profitability metrics and an 'AI pipe dream.' Equinix's stock fell up to 7% before recovering slightly to a 4.5% loss. The report claims Equinix manipulated its AFFO through accounting tricks, boosting it by $3 billion since 2015, while insiders sold over $327 million in stock. Equinix is investigating the claims.
March 20, 2024 | 3:52 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Hindenburg Research's short report accuses Equinix of inflating profitability metrics and selling an 'AI pipe dream,' leading to a temporary 7% drop in stock price.
The short report by Hindenburg Research directly targets Equinix, alleging significant financial manipulation and insider stock sales. This has led to a notable drop in Equinix's stock price, indicating a negative short-term impact. The company's response and investigation into these claims could further influence stock performance.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100