The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Scotiabank lowered its price target for Gildan Activewear from $72 to $65 following a short-seller report alleging channel stuffing and $510 million in excess inventory. These allegations caused the stock to plunge nearly 19%, wiping out approximately $2.15 billion in market capitalization in a single day. While the stock saw a partial recovery to $53.32, legal firms have launched investigations into potential securities fraud and revenue inflation. Despite the probe, some analysts maintain an Outperform rating on the shares.