December 6, 2018 / 12:56 PM / 2 years ago

BUZZ-Aphria: Stock slide continues as firm continues firefighting

** Aphria’s U.S.-listed shares drop 12.4 pct premarket, continuing their declines in the wake of a critical short-seller report

** Stock has tumbled ~43 pct in past two trading sessions after a short-seller on Monday questioned the Canadian cannabis producer’s acquisition in Latin America

** Aphria has decried the report and defended the deal saying it got “financial advice and a fairness opinion from a reputable firm” that the value was “fair”

** Aphria CEO and other executives also bought over $3.1 mln in stock Monday as a show of confidence, but even that failed to stem the slide in the shares

** On Thursday, in its third statement since the report, Aphria said a special committee of independent directors would conduct a review of the deal and the allegations

** APHA is on a 4-day losing streak and is down 69 pct YTD (Reporting by Savio D’Souza)

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