Tue. Nov 12th, 2024

Broadcom Inc. hit by short-seller attack, shares drop

Broadcom Inc. faced a short-seller attack on Monday, with Citron Research accusing the chipmaker of misleading investors about its financial performance and growth prospects. The allegations sent Broadcom’s shares down more than 5% in extended trading. Citron Research, which has a history of making bearish bets against tech companies, said Broadcom’s revenue growth is slowing and that the company’s recent acquisitions have not been successful. Broadcom denied the allegations, saying its financial statements are accurate and that it is focused on executing its strategy.

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