LendingTree hits 9-month low after Culper Research takes short position

LendingTree

05/12/2024 18:02

** Shares of online lending marketplace LendingTree  TREE.O 
slide as much as 9.3%; last down 8.8% at $35.16
    ** Stock trading at its lowest in nine months
    ** Culper Research reveals it is short on LendingTree
    ** Short-seller alleges TREE has failed to properly disclose
two "massive blows" to its businesses
    ** Culper Research also alleges that class action
litigations being faced by TREE have now grown into an
"existential risk" exposing it to millions in damages
    ** LendingTree did not immediately respond to a Reuters
request for comment
    ** Reuters could not independently verify the claims in the
report
    ** As of last close, TREE shares up 27.2% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))