ODDITY Rejects Short Seller Report; Says The Allegations Contained In The Report By NINGI Research Are Based On Demonstrable Factual Inaccuracies, Incorrect Assumptions, And Unfounded And Malicious Speculation
Portfolio Pulse from Benzinga Newsdesk
ODDITY Tech Ltd. (NASDAQ:ODD) has rejected a short seller report by NINGI Research, stating that the allegations are based on factual inaccuracies, incorrect assumptions, and unfounded speculation. ODDITY clarified that its Israeli brick-and-mortar business represents less than 5% of its net revenue and EBITDA, and that its financials are fully audited by Ernst & Young. The company emphasized its strong customer experience and technology-driven business model.
May 21, 2024 | 7:26 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
ODDITY Tech Ltd. (NASDAQ:ODD) has rejected a short seller report by NINGI Research, stating that the allegations are based on factual inaccuracies, incorrect assumptions, and unfounded speculation. The company clarified that its Israeli brick-and-mortar business represents less than 5% of its net revenue and EBITDA, and that its financials are fully audited by Ernst & Young.
ODDITY's strong rebuttal of the short seller report and clarification of its financials should reassure investors, potentially leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100