Short-Seller Report Sparks Drop in Poet Technologies Stock
Poet Technologies (POET) stock fell 8% on Tuesday following a critical report from short-seller Wolfpack Research. The report accused the company of questionable financial practices, including excessive share issuance and questionable promotional activities, which may lead to significant tax consequences for investors. The report also highlighted the company's poor financial performance, with only $2.3 million in earnings since 2020.
Tickers: $POET
Topics: company allegations short selling stock performance tax implications