U.S. short-seller Spruce Point criticized WSP Global, causing a 7.4% share fall and raising financial health concerns.
Prominent U.S. short-seller Spruce Point Capital Management criticized Quebec engineering firm WSP Global Inc., causing its shares to fall 7.4% after releasing a 68-page report, "Poorly Engineered Financials." The report questioned WSP's accounting practices and profit margins, raising concerns about the company's financial health. Spruce Point sees a potential 25-50% downside risk for WSP shares.
April 03, 2024
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