Australia's EOS shares halted for trading after 16% plunge on short-sell report

Electro Optic Systems Holdings

06/02/2026 03:09

** Laser firm Electro Optic Systems shares EOS.AX halted for trading after plunging 16.6%; biggest intraday drop since late March 2024

** Grizzly Research report on EOS calls its $80 mln contract announced with unnamed South Korean customer "intentionally misleading and utterly unrealistic"

** Short seller claims Korean client is agricultural drone firm Goldrone, which "lacks resources" for such purchase

** EOS had surged 29% in mid-Dec when it announced the contract

** About 3.7 million shares traded before trading halt, 1.4x 30-day average

** YTD, shares down 36.4%

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))