T-Shirt Maker Gildan Plunges on Short Seller’s Revenue Claim

Shares of Gildan Activewear Inc. experienced their steepest decline in over six years after short seller Jehoshaphat Research released a critical report alleging that the company exaggerated its revenue figures through a practice called channel stuffing. This claim sent shockwaves through the market, leading to significant investor concern and a sharp drop in the company's stock price. The controversy underscores the scrutiny faced by publicly traded companies and highlights the impact that negative reports from short sellers can have on corporate reputations and shareholder value.