BUZZ-Construction Partners down after Spruce Point Capital says short on company

Reuters

Jan 24, 2025

BUZZ-<a href="https://laohu8.com/S/ROAD">Construction Partners</a> down after Spruce Point Capital says short on company

updates

** Shares of civil infrastructure company Construction Partners ROAD.O down 10.5% at ~$83 in afternoon trading after Spruce Point Capital reveals a short position

** Spruce Point says ROAD's share price could have a 35% to 50% potential long-term downside and a risk of market underperformance

** Believes ROAD's business is under greater pressure than is widely understood

** Spruce Point finds that the company has been falling short of its organic growth projections

** Adds, ROAD's contract mix is getting worse while also taking longer to complete on average, which could indicate that it is stuck with underperforming jobs

** ROAD "strongly refutes" the assertions in the report

** "It is clear that the short-seller made numerous false statements and is deliberately attempting to mislead the market" - ROAD

** ROAD is set to report Q1 results on Feb. 7

** Stock gained 103.3% in 2024

(Reporting by Sanchayaita Roy and Aishwarya Jain in Bengaluru)

((Sanchayaita.roy@thomsonreuters.com))

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ROAD</span></p><p>** ROAD is set to report Q1 results on Feb. 7</p><p>** Stock gained 103.3% in 2024 </p><p> (Reporting by Sanchayaita Roy and Aishwarya Jain in Bengaluru)</p><p> ((Sanchayaita.roy@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE0031619046.USD","symbol_name":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY \"A\" (USD) INC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250123:nL3N3OJ1KV:1","article_id":"2505234120","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2505234120","pubTimestamp":1737664029,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Construction Partners down after Spruce Point Capital says short on companyupdates** Shares of civil infrastructure company Construction Partners ROAD.O down 10.5% at ~$83 in afternoon trading after Spruce Point Capital reveals a short position ** Spruce Point says ROAD's share price could have a 35% to 50% potential long-term downside and a risk of market underperformance** Believes ROAD's business is under greater pressure than is widely understood** Spruce Point finds that the company has been falling short of its organic growth projections** Adds, ROAD's contract mix is getting worse while also taking longer to complete on average, which could indicate that it is stuck with underperforming jobs** ROAD \"strongly refutes\" the assertions in the report ** \"It is clear that the short-seller made numerous false statements and is deliberately attempting to mislead the market\" - ROAD** ROAD is set to report Q1 results on Feb. 7** Stock gained 103.3% in 2024   ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE0031619046.USD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY \"A\" (USD) INC","ROAD":"Construction Partners","IE00B19Z4B17.USD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY \"A\" (USD) ACC","IE00B7SZL793.SGD":"Legg Mason Royce - US Small Cap Opportunity A Acc SGD-H","BK4129":"建筑与工程","IE00B66KJ199.SGD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY  \" A\" (SGD) ACC"},"translate_title":"Spruce Point Capital表示做空公司后，Buzz Construction Partners倒闭","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ROAD":0.9},"content_text":"BUZZ-Construction Partners down after Spruce Point Capital says short on companyupdates** Shares of civil infrastructure company Construction Partners ROAD.O down 10.5% at ~$83 in afternoon trading after Spruce Point Capital reveals a short position ** Spruce Point says ROAD's share price could have a 35% to 50% potential long-term downside and a risk of market underperformance** Believes ROAD's business is under greater pressure than is widely understood** Spruce Point finds that the company has been falling short of its organic growth projections** Adds, ROAD's contract mix is getting worse while also taking longer to complete on average, which could indicate that it is stuck with underperforming jobs** ROAD \"strongly refutes\" the assertions in the report ** \"It is clear that the short-seller made numerous false statements and is deliberately attempting to mislead the market\" - ROAD** ROAD is set to report Q1 results on Feb. 7** Stock gained 103.3% in 2024  (Reporting by Sanchayaita Roy and Aishwarya Jain in Bengaluru) ((Sanchayaita.roy@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}