Grifols shares fell more than 6% after 11 a.m. on the day the Catalan company was due to hold a conference call with investors to refute Gotham City Research’s accusations and provide more details on the latest developments. “misinformation” and “speculation” Published by bearish fund.
Specifically, the pharmaceutical company’s shares fell 6.52% at 11:02 a.m. until they traded at: 11.03 eurosAfter closing with a 12 percent gain yesterday and calming the markets by announcing that Gotham City Research would be sued “for significant harm, both financial and reputational, to the company.”
In this way, the company continues on its way.Road map’ Trying to refute one by one the arguments put forward by the bearish company in its report.
In terms of analysis Sabadell gave positive evaluation to the information contained in the company’s financial statements and its explanations of the consolidation and accounting criteria used and verified by its auditor.
They also find it positive that the report does not mention the problems in the development of technology. core business or operating cash generation.
“We still have no reason to change our assessment of Grifols (19.50 euros per share) Unless we are sure that there are factual errors or that the information reported is not accurate,” they said from Sabadell.
However, according to the organization, the seriousness of Gotham City Research’s accusations put pressure on the price, especially due to the angle. g?.
The bearish fund released a report early Tuesday in which it accused the pharmaceutical company of manipulating debt ratios and gross operating income (EBITDA) to artificially reduce leverage, so he warns that his actions will “Irreversible.”
After the publication of this report, The company’s securities lost 42% of their value. It finally finished Tuesday’s session with a decline of 25.91%, leaving 2.2 billion euros on the stock market.
Grifols added that the report was also damaging. “all stakeholders” and this has literally caused great concern to patients and donors.
Grifols’ board of directors confirmed this once again ‘Fully supports’ CEO and chief executiveThomas Glanzmann said that he has been cooperating determinedly in the growth and development of the company since its establishment in 2006.
Additionally, all operations published in the Gotham City report “It was unanimously approved by the company’s board of directors and various committees.”
He said that operations continue in the same way. “All required supporting information and documentation, including third-party ratings and opinions.”
In this sense, he criticized the American company. inquiring about the price of purchasing donor centers and said it was “difficult to understand if you don’t have the appropriate knowledge.”
“As with the acquisition of any business, the price paid is not just the price of the assets, but also their ability to make a profit“, added.