Why Gildan Activewear Stock Tumbled by 11% This Week
A short-seller published a comprehensive -- and highly critical -- report on the company's conduct.
Why Gildan Activewear Stock Tumbled by 11% This Week
Overview
A short-seller made no bones about the flaws it sees in Gildan Activewear's (NYSE: GIL) business. That investor published a scathing report about the company's performance and conduct on Tuesday, setting a very bearish tone for the remainder of the short trading week.
Ultimately, according to data compiled by S&P Global Market Intelligence, Gildan's stock traded down by 11% as a result.
Details
That firm, Jehoshaphat Research, disclosed on Tuesday that it holds a 4% short position in Gildan's total float. In a 60-page document, the firm laid out in great detail its argument that the apparel conglomerate's equity was set for a fall.
Source
Originally published at www.fool.com.
