LendingTree Recovers by Closing Bell After Short-Seller Report Sends Shares Reeling

MT Newswires Live12-06

LendingTree (TREE) closed less than 1% lower on Thursday, rebounding from a more than 10% decline earlier Thursday that followed Culper Research revealing it has an unspecified short position on the company's stock and issuing a 16-page report concluding the mortgage, home-equity and insurance e-commerce platform is "on tenuous footing."

Specifically, Culper contends LendingTree is downplaying the potential financial impact of class-action litigation pending against its QuoteWizard division. It also asserts the company could be "decimated" by new Federal Communications Commission rules taking effect in January intended to limit the number of robocalls received by consumers, describing both as existential threats to its business.

LendingTree and its legal counsel did not immediately respond to questions from MT Newswires on Thursday about some of the allegations posed by Culper.

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