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Shares of Kyndryl Holdings (KD) fell on Thursday following a report from short seller Gotham City Research, which alleges the company manipulated metrics. Kyndryl issued a response rejecting the report, calling the claims "inaccurate and deliberately misleading."
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Now time for some of today's trading tickers. Let's start with Kindral. Those shares under pressure after short seller Gotham City claimed that the IT services company was manipulating certain financial metrics. Kindral fired back in a statement saying it rejects in the strongest possible terms the conclusions that were reached within that report that are statement cited by multiple sources here. Um, the company says our accounting and disclosures are correct, accurate and in in accordance with all applicable reporting requirements.
It sounds like the report, um, is kind of questioning their progress on just certain important financial metrics, um, since they that spin off from IBM. So that they manipulated adjusted profit and free cash flow, um, to your point, though, it sounds like that the company spokesperson is telling press and hitting right back using pretty tough language here saying the report is inaccurate and it is deliberately misleading, but we did see, you know, obviously stock coming under pressure today.
Yeah, exactly. And looking at the short interest in the stock, it's not that high. It's just under 4% of float according to data tracked by Bloomberg.
