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Cyberdyne Shares Sink After Short-Seller Citron Targets Firm

  • Andrew Left’s Citron sees robot-suit maker losing 86% of value
  • Left’s bearish analysis of Valeant preceded slump last year

Cyberdyne Inc., a Japanese maker of robot exoskeletons for patients with spinal difficulties, tumbled after short-seller Citron Research said the company’s stock is poised to plunge.

Shares fell as much as 11 percent in Tokyo after Andrew Left’s Citron said Cyberdyne is too expensive, citing declining growth in the company’s core assistive-limb product and valuations that exceed peers. The stock pared losses in the afternoon and closed Tuesday 6.8 percent lower. The report didn’t state whether Citron has bet against the stock. The report is malicious and contains factual inaccuracies, Cyberdyne Chief Financial Officer Shinji Uga said.

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