PowerSchool Holdings Inc. shares fell 9.8% after Spruce Point Capital Management bet against the company, predicting a 30%-60% share price drop.

Education tech firm PowerSchool Holdings Inc. shares fell by 9.8% after short-seller Spruce Point Capital Management LLC released a report betting against the company, citing significant downside for the stock. Shares dropped to their largest one-day decline in eight months, with year-to-date losses reaching nearly 25%. Spruce Point predicts a 30% to 60% drop in the share price.

April 17, 2024
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