Gotham City Research LLC’s short campaign against Spanish health-care firm Grifols SA is more a combination of analysis and conjecture based on details lurking in plain sight than a grand expose or a smoking gun. But its 65-page report raises a critical question that shareholders should aim at every company: What is the substance of its indebtedness?

Grifols is a blood-plasma specialist whose shares had already fallen substantially from pre-pandemic levels before Gotham struck this week. The existing bear thesis focused on weak transparency, Covid disruption and increasingly costly borrowings — although stock-market analysts and some investors see a company now in turnaround mode.

QOSHE - Grifols Still Has Key Gotham Research Questions to Answer - Chris Hughes
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Grifols Still Has Key Gotham Research Questions to Answer

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11.01.2024

Gotham City Research LLC’s short campaign against Spanish health-care firm Grifols SA is more a combination of analysis and conjecture based on details lurking in plain........

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