Kornit Digital tumbles as Spruce Point slaps "strong sell" rating

Kornit Digital

07/05/2019 16:59

** Kornit Digital Ltd  KRNT.O  slides 13.5% to $24.35 as
short seller Spruce Point Capital downgrades the textile printer
maker's stock to "strong sell"     
    ** Spruce Point says in a research note https://www.sprucepointcap.com/kornit-digital-ltd,
 Kornit has a 75%–85% downside risk 
    ** U.S. program growth has plateaued and has hard evidence
that printer orders delivered to Amazon.com Inc  AMZN.O  in the
U.S. have dramatically slowed YTD 2019 - Spruce Point 
    ** Short seller would be more optimistic if Kornit came a
multiple closer to its peers 
    ** Kornit was not immediately available for a Reuters
request for comment 
    ** KRNT shares have risen 30.4% this year 

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))