Airsculpt shares slide after Fuzzy Panda takes short position (updated)

Airsculpt Technologies

23/02/2024 14:19

(Adds details on short-seller report and background in
paragraphs 2-4)
       Feb 23 (Reuters) - Shares of AirSculpt Technologies
 AIRS.O  fell 30% on Friday after Fuzzy Panda Research revealed
a short position in the cosmetic surgery firm.
    Fuzzy Panda said its investigation revealed "multiple
malpractice lawsuits". Reuters could not immediately verify
Fuzzy Panda's claims.
    AirSculpt, which offers fat removal procedures through
specialized centers that are staffed with surgeons, did not
immediately respond to a Reuters request for comment.
    The company reported sales of $168.8 million in 2022.
    AirSculpt's shares were trading at $4.25 before the bell.
They have fallen roughly 17% so far this year, as of Thursday's
close.
    Short sellers make money by betting that the price of a
security will decrease.

 (Reporting by Puyaan Singh and Manas Mishra in Bengaluru;
Editing by Shounak Dasgupta)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15))