Trustpilot Plunges as Short Seller Targets Review Firm (2)

Shares in Trustpilot Group Plc had their steepest ever one-day drop after Grizzly Research said it holds a short position and published a negative report on the consumer-review company.

The stock closed down 32%, sending it to the lowest level since December 2023 and cutting the firm’s market value by about £243 million ($324 million) to about £517 million.

In the report released on Thursday, Grizzly contended that Trustpilot pressures businesses to pay for subscriptions to manage reputations and improve customer ratings. The short seller also said there’s a market of third-party actors selling fake reviews on the Trustpilot platform. ...