(Reuters) -Shares of AirSculpt Technologies fell 30% on Friday after Fuzzy Panda Research revealed a short position in the cosmetic surgery firm.
Fuzzy Panda said its investigation revealed “multiple malpractice lawsuits”. Reuters could not immediately verify Fuzzy Panda’s claims.
AirSculpt, which offers fat removal procedures through specialized centers that are staffed with surgeons, did not immediately respond to a Reuters request for comment.
The company reported sales of $168.8 million in 2022.
AirSculpt’s shares were trading at $4.25 before the bell. They have fallen roughly 17% so far this year, as of Thursday’s close.
Short sellers make money by betting that the price of a security will decrease.
(Reporting by Puyaan Singh and Manas Mishra in Bengaluru; Editing by Shounak Dasgupta)
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