LifeStance slides after Hindenburg takes short position
01/02/2024 14:54
Feb 1 (Reuters) - Shares of mental healthcare provider
LifeStance LFST.O declined 16%, to $5 on Thursday, after
Hindenburg Research said it had taken a short position on the
company's stock.
LifeStance Health manages a network of psychiatrists,
psychologists, nurse practitioners and licensed therapists
across the United States, offering in-person and telehealth
services, including customized treatment plans.
Short-seller Hindenburg said its assessment showed
LifeStance will need to raise cash imminently.
The company reported cash balance of $42.6 million at the
end of the third quarter, which Hindenburg referred to as
"razor-thin".
LifeStance Health did not immediately respond to a Reuters
request for comment.
(Reporting by Bhanvi Satija in Bengaluru; Editing by Pooja
Desai)
((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))