Gildan Activewear falls after Jehoshaphat discloses short
BUZZ-Gildan Activewear falls after Jehoshaphat discloses short Updates
** U.S.-listed shares of Canadian apparel maker Gildan Activewear GIL.TO, GIL.N down as much as 24.9% at $46.55, lowest since August 2025
** Stock set for its worst day since March 2020, if losses hold
** Jehoshaphat Research says it is short on GIL, noting that the firm's "true" organic growth is negative, contrasting sharply with its appearance of revenue growth
** Short-seller also says co has been “stuffing” distributors and customers with product far in excess of underlying demand; adds acquisition of Hanes presents additional challenges
** "We believe this misleading picture of organic growth started to form around 2024, following the mass resignation of the GIL board of directors" - Jehoshaphat Research
** Gildan Activewear says it "is confident that its current disclosure provides its investors with accurate and comprehensive information regarding Gildan, including with respect to its financial information and governance practices"
** GIL's current market value is $11.47 billion, as per LSEG data
** As of last close, stock down ~5% YTD
(Reporting by Sanskriti Shekhar in Bengaluru)
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