Truecaller falls on short seller attack, daily volume up fourfold
28/09/2022 12:10
(Adds company response, updates shares, milestone)
** Shares of Truecaller TRUEb.ST trade 10% down after
dropping as much as 23.5%, after short seller Viceroy Research
published a report criticising the Swedish tech company
** Viceroy writes that the EU's GDPR and similar
legislations globally threaten Truecaller's business
** "We have received the report and are going through it,"
Truecaller's head of global PR, Hitesh Raj Bhagat, said in an
email to Reuters, adding the company did not have any comments
for now
** About 8.5 million shares of the company have traded so
far on Wednesday, about 430% of their 30-day moving average
full-day volume
(Reporting by Jagoda Darlak)
((jagoda.darlak@tr.com))