Key facts
- Pirelli shares fell due to concerns about its exposure to Russia.
- Short seller Grizzly Research published a report alleging a 'close relationship' with Russia.
- Pirelli has instructed lawyers to take legal action against the short seller.
Pirelli & C. S.p.A. shares experienced a decline in trading following the release of a report by short seller Grizzly Research LLC. The research firm's report raised concerns regarding the Italian tire manufacturer's ongoing business ties and exposure to the Russian market, claiming a 'close relationship'. In response, Pirelli has instructed lawyers to take legal action against Grizzly Research.