2CRSi's shares extend losses after short-seller report

2Crsi SA

22/06/2026 11:52

June 22 (Reuters) - Shares in French technology hardware maker 2CRSi fell again on Monday, extending sharp losses after short-seller Grizzly Capital Management LP published a report alleging irregularities in the company's reported revenue, a claim 2CRSi has denied.
The combined declines cut 2CRSi's market value by about 624 million euros ($715 million) from roughly 1 billion euros last Wednesday. The stock fell 34% on Monday after dropping 43% on Thursday.
2CRSi said in a statement on Friday after the market close that Grizzly Capital Management held a net short position of 0.89% in the company before publication of the report.
Maxence Dhoury, an analyst at Portzamparc, said on Friday that, in his view, "not a single one of the many details shared was inconsistent with the information received over the years," and that he was waiting for volatility in the stock to ease.
Short sellers seek to profit from declines in share prices and often publish critical research on listed companies.
($1 = 0.8729 euros)

 (Reporting by Lucie Barbier; Editing by Matt Scuffham)
 ((Email: lucie.barbier@thomsonreuters.com))