Pagaya Technologies falls after Iceberg Research discloses short position

Pagaya Technologies

11/02/2025 16:46

** Shares of fintech firm Pagaya Technologies  PGY.O  fall
6.9% to $12.12 after Iceberg Research reveals short position 
    ** Short seller claims PGY is running an "unsustainable
business model" by underwriting high-risk consumer loans through
partnerships with fintech lenders and banks
    ** Iceberg alleges borrowers for these loans were initially
rejected by the partners because they were deemed too risky
    ** PGY did not immediately respond to a Reuters request for
comment
    ** Reuters could not independently verify the claims in the
report
    ** PGY stock slumped 43.9% in 2024

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