CSG Stock Selloff: Hunterbrook Short Report Puts Europe’s Biggest Defence IPO Under Pressure
After a short-seller report cast doubt on Czechoslovak Group’s ammunition production claims, the Czech arms maker tried to calm investors on Tuesday. The stock slumped 13.1% at Monday’s close, having plunged as much as 26% during the session—its steepest drop since January’s Amsterdam IPO, according to Reuters. The dispute comes as CSG’s profile rises in Europe’s defense supply chain. The company has been delivering ammunition and gear to Ukraine, which is racing through supplies, while NATO allies scramble to restock. On Tuesday, CSG shares slipped 0.62% to €15.90, according to MarketScreener, after ending Monday at €16.00.
