LifeStance Health down after Hindenburg takes short position

LifeStance Health

01/02/2024 18:32

(Updates)
    ** Shares of mental healthcare provider LifeStance Health
 LFST.O  down 7% at $5.6 after Hindenburg Research takes a short
position in LSFT 
    ** Stock declined as much as 21%, to hit a nearly one-year
low of $4.74 earlier on Thursday 
    ** LFST has declined 72.7% since its debut on the Nasdaq in
June 2021
    ** Short-seller Hindenburg said in its report LFST has had 3
CFOs in last three years, which can be a "key sign of financial
stress" 
    ** The short-seller said its assessment showed the company
will need to raise cash imminently
    ** Co said Hindenburg's report was "designed to mislead
investors"
    ** Stock falls for third session in a row
    ** In 2023, stock rose nearly 59%

 (Reporting by Anuja Bharat Mistry, Savyata Mishra and Pratik
Jain in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))