PetIQ falls on Spruce Point's "strong sell"

PetIQ

30/04/2019 19:47

** Pet health and wellness product maker's shares  PETQ.O 
plunge 15.6% to $4.76
    ** Short-seller Spruce Point Capital says https://www.prnewswire.com/news-releases/spruce-point-capital-releases-a-strong-sell-research-opinion-on-petiq-inc-nasdaq-petq-300840809.html
 it has "strong sell" opinion on PETQ 
    ** PETQ faces 75-90% downside risk to about $2 to $8 per
share due to fundamental challenges in its core pharmaceutical
distribution business, others - Spruce Point says in a report
    ** The company did not immediately respond to a Reuters
request for comment
    ** PETQ's short interest as of April 15 is 18.85%; Co to
report Q1 results on May 8
    ** More than 2.3 mln shares traded, set for their busiest
day since November
    ** Session losses cut YTD gains to ~10%

 (Reporting by Divya R in Bengaluru)
 ((divya.renganathan@thomsonreuters.com))