Sadot Group crashed 72%, halted five times today after short-seller report
The post Sadot Group crashed 72%, halted five times today after short-seller report appeared on BitcoinEthereumNews.com. Nasdaq halted trading in Sadot Group (SDOT) five times this morning as its shares collapsed as much as 72% from yesterday’s close. The plunge followed a report from short-seller Fugazi Research, which declared that the company has “no meaningful fundamental value and is unsuitable for investment.” The Nasdaq-listed agri-food company, once a burger chain known as Muscle Maker Grill, still has large financial obligations and evidently collapsing investor confidence. By late morning in New York, the stock changed hands near $14, down about 65% from Tuesday’s $40.00 close. It briefly traded down to an intraday low of $11.01, or 72% below its 4pm price yesterday. Each plunge tripped Nasdaq’s trading breakers, designed to maintain orderly market pricing. As the volatile and relatively small company has swung wildly over the past few weeks, Nasdaq’s limit-up and limit-down