Beauty company Oddity Tech faces allegations of deception from short seller Ningi Research, shares drop 9%.
From CNBC: 2024-05-21 16:04:33
Short seller Ningi Research accused beauty company Oddity Tech of deceiving investors, claiming it isn’t solely online-based as touted. Oddity denies allegations and defends its digital model. Shares dropped 9%. Ningi also alleges Oddity’s profits come from Israeli stores, not the U.S. Oddity disputes this, claiming Israel revenue is “immaterial.” Customers complain of difficult substitutions, Oddity stands by its technology. CEO addresses complaints, defends practices.
Read more at CNBC: Short seller alleges misleading investors