Grifols has faced a relentless slide in its stock price that seems boundless. The Catalan multinational, a key player in hemoderivatives, has seen shares tumble well beyond 16 percent in the early hours of trading. After a negative session on Tuesday, the equity continued to drift lower on Wednesday, approaching multi‑year lows with a price hovering around 6.4 euros and a year-to-date decline exceeding 50 percent. The company’s market capitalization has cooled to roughly 3.2 billion euros as a result.
One driver behind the drop is a fresh report from a well-known short-seller that previously sparked doubts about the company’s debt in January. In addition, Moody’s has placed the credit ratings of Grifols and its subsidiaries on review for a potential downgrade due to tighter cash generation and delays in publishing audited accounts. Last week, the firm reported results showing a 72 percent drop in net income, though these figures did not include the audit from a major accounting firm, which was expected to be released this week. Taken together, these developments have intensified the losses seen in the stock’s value.
Grifols currently carries a corporate family rating of B2. Previously, outlooks had been negative. Corporate family ratings are Moody’s measure for issuers at the speculative grade level, assessing the ability to meet financial obligations without considering the specific mix of debt instruments. In recent weeks, Grifols has been under persistent pressure from investors who have bet on a further decline in the stock. The latest round of volatility followed a near 35 percent plunge the previous week. When a temporary rebound seemed possible, renewed selloffs pushed the stock lower again, a pattern that persisted through the first part of the current trading session.