Stride falls as Fuzzy Panda Research discloses short position

Stride

16/10/2024 19:22

(Updates)
    ** Shares of edutech firm Stride  LRN.N  fall 7.9% to
$65.04, hits over five-month low
    ** Fuzzy Panda Research discloses short position in Stride;
says the U.S. government's economic stimulus during pandemic,
the Elementary & Secondary School Emergency Relief Funds
(ESSER), boosted LRN's profits
    ** Says co's operating profit could fall as ESSER funds have
expired as of Sept. 30
    ** Reuters could not independently verify the claims made by
Fuzzy Panda Research
    ** Stride said in a statement that Fuzzy Panda's claims are
inaccurate and filled with innuendo in an attempt to mislead
investors about co's actual performance, financial reporting,
leadership and future growth opportunities
    ** Co will release Q1 fiscal 2025 financial results on Oct.
22
    ** Up to last close, LRN had risen ~19% YTD

 (Reporting by Akash Sriram and Jaspreet Singh in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))