EquipmentShare falls after Blue Orca shorts construction tech firm
EQPT•EquipmentShare shares fell 5.8% to $17.05 after Blue Orca Capital said it was shorting the company. Blue Orca said it believes undisclosed promises to backstop EquipmentShare’s equipment investment program create billions of dollars in hidden liabilities.
1. Short position disclosed
Blue Orca Capital said it is shorting EquipmentShare, arguing that undisclosed promises to backstop the company’s equipment investment program create billions of dollars in hidden liabilities that could impair its balance sheet and bonds. EquipmentShare did not immediately respond to a request for comment.
2. Shares since debut
As of the last close, EquipmentShare stock was down about 26% since its January debut.
