Grifols Set for Biggest Weekly Drop Ever on Short Seller Tumult
- Blood-plasma company has slumped about 40% since Gotham report
- Concern on debt, Haier deal fuel decline, analysts say
The Grifols headquarters in Barcelona.
Photographer: Maria Contreras Coll/BloombergGrifols SA shares slumped anew, putting the stock on a pace for its biggest weekly drop ever after a short seller criticized the Spanish blood-plasma company’s accounting and corporate governance.
Shares of the Barcelona-based company sank 12% Friday to €8.72 at 11:22 a.m. They’re now down almost 40% since Gotham City Research LLC’s report Tuesday. Management efforts to reassure investors have done little to sustain the stock, with the company’s market value shrinking by €3.3 billion ($3.6 billion).