da-kuk/E+ via Getty Images Update 3:10pm: Adds Oddity response. Oddity Tech ( NASDAQ: ODD ) fell 9% after a short report from Ningi Research about the tech-focused beauty and wellness company. Ningi Research is short Oddity ( ODD ) shares.
Oddity Tech ( ODD ) responded in a statement to the short report, saying it's filled with misinformation. "While ODDITY doesn’t engage with self-interested short sellers and hostile interests, the level of deep misinformation in this report cannot go unanswered," Oddity said in a statement emailed to Seeking Alpha. "ODDITY fundamentally rejects the short seller report.
The allegations contained in the report by NINGI Research are based on demonstratable factual inaccuracies, incorrect assumptions, and unfounded and malicious speculation. The short seller report was published without any involvement by ODDITY." Oddity added that "the main allegation in the report that the Israeli brick-and-mortar business is a significant portion of ODDITY’s revenue and EBITDA is a complete falsehood.
" Short interest in Oddity ( ODD ) is 28% of float. More on Oddity Tech Ltd. Oddity Tech: A Unique Fusion Of Beauty And Tech Oddity Tech Ltd.
(ODD) Q1 2024 Earnings Call Transcript Oddity Tech Ltd. 2024 Q1 - Results - Earnings Call Presentation Oddity Tech up 16% on 2024 guidance raise, Q1 results Oddity Tech Ltd. Non-GAAP EPS of $0.
61 beats by $0.12, revenue of $212M beats by $6.82M.
