Eurofins: victim of short seller ShadowFall
(CercleFinance.com) - The Eurofins share is down over 7% at lunchtime on the Paris Stock Exchange this Thursday, after a similar drop yesterday, with the bioanalysis group targeted by a British short seller - ShadowFall Fund.
In a 79-page research report posted on its website, ShadowFall questions the complexity of Eurofins (described as "chaos"), which has about 800 subsidiaries. "Where the market sees a company whose share price performance has been stellar, we perceive it as an increasingly desperate, debt-laden company, arguably heading towards a liquidity crisis," we read.
Incidentally, ShadowFall adds, two different birth dates (1963 and 1969) for Dr Gilles Martin, the founder, have been declared the British and Luxembourg authorities. "Whether these copious inconsistencies are simply an honest mistake we do not know, however... leaves us with the impression that Eurofins is a chaotic hotchpotch of companies suffering from a lack of attention to detail".
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In a 79-page research report posted on its website, ShadowFall questions the complexity of Eurofins (described as "chaos"), which has about 800 subsidiaries. "Where the market sees a company whose share price performance has been stellar, we perceive it as an increasingly desperate, debt-laden company, arguably heading towards a liquidity crisis," we read.
Incidentally, ShadowFall adds, two different birth dates (1963 and 1969) for Dr Gilles Martin, the founder, have been declared the British and Luxembourg authorities. "Whether these copious inconsistencies are simply an honest mistake we do not know, however... leaves us with the impression that Eurofins is a chaotic hotchpotch of companies suffering from a lack of attention to detail".
Copyright (c) 2019 CercleFinance.com. All rights reserved.