** Shares of fintech firm Pagaya Technologies PGY.O fall 6.9% to $12.12 after Iceberg Research reveals short position
** Short seller claims PGY is running an "unsustainable business model" by underwriting high-risk consumer loans through partnerships with fintech lenders and banks
** Iceberg alleges borrowers for these loans were initially rejected by the partners because they were deemed too risky
** PGY did not immediately respond to a Reuters request for comment
** Reuters could not independently verify the claims in the report
** PGY stock slumped 43.9% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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