Oatly shares dropped more than 5% Wednesday before recapturing around half of that by the close of trading. Oatly, which has a market capitalization of almost $12 billion, responded that it “is aware that a short seller is making false and misleading claims regarding the company. This short seller stands to financially benefit from a decline in Oatly's stock price caused by these false reports. Oatly rejects all these false claims by the short seller and stands behind all activities and financial reporting.”Oatly on sale at a Whole Foods store in Chicago. The entire Spruce Point report, which calls for Oatly to hire an independent forensic accountant to investigate these claims, can be found here.

Source: Forbes July 15, 2021 14:15 UTC