Economy and Business > Markets
The local firm warned its shareholders “not to make investment decisions based” on that report
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November 16, 2022 at 19:57
The actions of the Uruguayan dLocal fell 51% this Wednesday on the New York Stock Exchange to US$ 10.5, after learning of a critical report by the US research and investment company Muddy Waters Capital. With this, the market capitalization was reduced from US$ 6,455 million to US$ 3,155 million.
Hours later, the Uruguayan unicorn issued a statement stating that “the markets commented today (for this Wednesday) on a short sellers report published by Muddy Waters. The report contains numerous inaccurate statements, unsubstantiated claims, and speculation.”
He added that “short seller reports are often designed to drive the stock price down to serve the interests of the short seller to the detriment of the company’s shareholders.
Finally, he indicated: “we warn shareholders not to make investment decisions based on this report. dLocal will refute the allegations in the appropriate forum in due course.”
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