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(Bloomberg) by Luca Casiraghi, Kristine Owram, Joshua Fineman and Matt Robinson– Aphria Inc., one of the biggest Canadian pot companies, fell as much 29 percent in New York after a short seller said it was a “black hole”.
Gabriel Grego, founder of Quintessential Capital Management, told delegates at a conference in New York Monday that Aphria had diverted funds into inflated investments held by insiders. In a report he ran in conjunction with Hindenburg Research, a forensic analysis firm, Grego said the company, which had a $2 billion market capitalization last week, is worthless. Both Quintessential and Hindenburg are shorting Aphria. Full article here: https://finance.yahoo.com/news/cannabis-company-craters-shortseller-calls-142240390.html?.tsrc=rss