Zebra Technologies down after Spruce point declares short position in co

Zebra Technologies

08/08/2024 14:31

** Shares of barcode scanner maker Zebra Technologies
 ZBRA.O  fall 2% to $308 in premarket trading
    ** Short-seller Spruce Point says ZBRA is downplaying
competitive pressures across its core hardware and software
offerings and may be embellishing market leadership claims
    ** Also raises concerns about ZBRA's credibility of
management and board, accuracy of its financial reporting and
sustainability of its growth and valuation multiple
    ** Based on Spruce Point's investigation, ZBRA's share price
could have 65%-80% long-term potential downside risk
    ** ZBRA stock up 15% YTD

 (Reporting by Priyanka.G in Bengaluru)
 ((priyanka.g@thomsonreuters.com;))