Investors don't seem to know who to believe on Thursday, as Lightspeed shares jumped up when the stock market opened, but late in the trading day the shares were changing hands at about $120 each, bringing the two day sell-off to 15 per cent and wiping out $2 billion off the value of the company.įor its part, Spruce Point called Lightspeed's defence "laughable." Easily import stock from your physical stores to your eCom shop in one click and. Connect all your locations to your eCom store for a more efficient supply chain that lets you sell all your stock online. Keep costs low and profits high across channels with Lightspeed eComs inventory management tools. Blue areas above the Last Price will tend to provide support to confirm the upward move. Keep your stock moving in store and online. Red areas above the Last Price will tend to provide resistance to limit the upward move. (LSPD.TO) Blue areas below the Last Price will tend to provide support to limit the downward move. "The industry is too competitive to justify current valuation," he said. Lightspeed Pos Inc (LSPD.TO) Lightspeed Pos Inc. Leung has a price target of $96 on the shares, which is about $30 below where they were on Wednesday. The company had revenue of 133. The reported (0.08) earnings per share for the quarter, topping analysts consensus estimates of (0.10) by 0.02.
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"Investor doubts persist around because management is not providing enough high-quality disclosure." Lightspeed POS last posted its earnings results on November 4th, 2021. Shareholders may, upon request, receive a hard copy of the complete audited financial statements free of charge. "Overall, while we have issues with management's we continue to believe the business can still exceed short-term guidance given reopening trends and the company's growing scale," he said in a note to clients Thursday. One of those, Howard Leung of Veritas, had a sell recommendation on the company even before Spruce Point levelled its accusations against the company.
WATCH | Spruce Point lays out its case against Lightspeed: Lightspeed "baits investors with its massive potential in its payments solution, but we believe it has not been transparent about competitive pressures and material margin decline," the report says, among other allegations. It has been compared to Ottawa-based Shopify, which is currently the most valuable company in Canada. Lightspeed is a payment processing company that helps small businesses sell things online and in person. On Wednesday, Spruce Point Management, an American short-selling investment firm with a history of targeting Canadian companies, put out a lengthy report on Montreal-based Lightspeed Inc., alleging the company has covered up "massive inflation" of how many customers it has, how much money it makes from them, and how much growth potential it has. Fast-growing Canadian technology company Lightspeed is pushing back after a short seller alleged the company has misled investors about its financial health, causing a $2 billion plunge in the company's value.
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