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Why BeiGene Stock Tumbled in September

TheMotleyFool

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Shares of the Chinese biotech BeiGene (NASDAQ: BGNE) dropped by 14.8% last month, according to data from S&P Global Market Intelligence.

What spooked the company's shareholders in September? BeiGene's shares tanked in response to a rather harsh short-seller report that basically accused the company of outright fraud on several fronts. The company, for its part, refuted most of these claims, calling them "baseless" in a public rebuttal. Still, investors didn't seem wholly convinced by BeiGene's response based on how its stock performed for the rest of the month.

Image source: Getty Images.

Source Fool.com

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