Why Technoglass Stock Is Plummeting Today
Shares of Technoglass (NASDAQ: TGLS) plunged more than 40% by 10:30 p.m. ET on Thursday. Weighing on the glass stock was a damaging report by a noted short-seller.
Short-seller Hindenburg Research published a new report on glass and aluminum products maker Technoglass. The Columbia-based company focuses on selling glass products to residential and commercial building markets. Shares of the company, taken public via a special purpose acquisition company (SPAC) in 2013, have soared this year, fueled by the pandemic-related real estate boom in South Florida, its key U.S. market.
Image source: Getty Images.
Source Fool.com
