Key facts
- Trading in 2CRSi was suspended.
- 2CRSi's stock price collapsed by 43%.
- Short seller Grizzly Research published a report on 2CRSi.
- Grizzly Research alleged misrepresentation of contracts and revenue by 2CRSi.
- The allegations specifically concerned 2CRSi's US operations.
- 2CRSi has refuted the claims made by Grizzly Research.
The stock of French AI server manufacturer 2CRSi experienced a dramatic 43% decline, leading to a suspension of trading. This sharp fall was prompted by allegations from short seller Grizzly Research. The research firm claimed that 2CRSi had misrepresented contracts and revenue, with a specific focus on the company's operations in the United States. In response to these accusations, 2CRSi has issued a denial, refuting the claims made by Grizzly Research. The company's statement indicates a strong disagreement with the short seller's findings and characterization of its financial reporting and business dealings.