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Grifols (NASDAQ:GRFS) ADRs tumbled 10% in premarket trading after Moody’s put the Spanish blood plasma company’s rating on review for downgrade and also as Gotham City Research released a new short report.
Moody’s on Tuesday placed Grifols (GRFS) on watch negative from outlook negative by Moody’s.
Gotham City Research released a new short report on Grifols (GRFS) on Wednesday after it published its first short piece on the blood plasma company on Jan. 9, which sent its ADR shares down 22%. In response to the original short item, Grifols issued a lengthy statement about the report, asserting that it contained “false information” and “speculation.” Grifols ADRs have plunged 45% since the first short report was published.
Grifols (GRFS) didn’t immediately respond to Seeking Alpha email request for comment.