BUZZ-Australia's EOS shares halted for trading after 16% plunge on short-sell report
Reuters
Feb 06
BUZZ-Australia's EOS shares halted for trading after 16% plunge on short-sell report
** Laser firm Electro Optic Systems shares EOS.AXhalted for trading after plunging 16.6%; biggest intraday drop since late March 2024
** Grizzly Research report on EOS calls its $80 mln contract announced with unnamed South Korean customer "intentionally misleading and utterly unrealistic"
** Short seller claims Korean client is agricultural drone firm Goldrone, which "lacks resources" for such purchase
** EOS had surged 29% in mid-Dec when it announced the contract
** About 3.7 million shares traded before trading halt, 1.4x 30-day average
** YTD, shares down 36.4%
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))
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