Lightspeed Commerce Inc T.LSPD

comments on short seller report

[Betteryear2]

MONTREAL, Sept. 29, 2021 /CNW Telbec/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD) today commented on the short seller report published today by Spruce Point Capital Management.

The report contains numerous important inaccuracies and mischaracterizations which Lightspeed believes are misleading and clearly intended to benefit Spruce Point, which itself has disclosed that it stands to profit in the event that the stock price of Lightspeed declines. Lightspeed cautions investors to not make decisions based on this report and instead strongly encourages them to consult credible sources, including Lightspeed's filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, prior to making their investment decisions.

Lightspeed is confident in its governance, financial reporting and business practices. Lightspeed has consistently delivered revenue growth since its initial listing on the Toronto Stock Exchange in March 2019. In the quarter ended June 30, 2021, revenue of $115.9M increased 220% from the prior year quarter with organic1 software and transaction-based revenue growth of 78%.

The Company will not be providing further comment on the report at this time as it maintains its focus on building its business and delivering exceptional products and services for customers. 

 

About Lightspeed

Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. The cloud solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financing and connection to supplier networks.

Founded in Montral, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange and Toronto Stock Exchange (NYSE: LSPD) (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.

For more information, see www.lightspeedhq.com


https://www.newswire.ca/news-releases/lightspeed-comments-on-short-seller-report-832105693.html

[Form001]

Good news but why they don't sue Sprice point?

[argon12]

These short sellers use many layers to protect themselves. Often there is a separate company that writes the report from the actual firm selling the stock short. SNAKES.

[equityresearch]

Even with the short report, analysts are reiterating price targets, stating that the pullback is overdone, and noting that this may be a good buying opportunity. Smart money ignores the bs from these short sellers.

[equityresearch]

The short seller is just making noise in order to profit. Happens more often than it should. Anticipating Lightspeed stock to start its climb back to the top!

[bmeister2]

Been there,done that is my response to all this " much ado about nothing" scenario being played out by this Spruce shorter trying to make easy money of panicky investors who have been warned by all the "talking heads" lately to wait for the shoe to drop with valuations a bit frothy lately. Do your own DD as lightspeed suggested themselves and don't be like sharks circling

[VicesVertus2222]

This kind of reply is general communication BS. It is required to publish a minimal press release, but they will have to come out with something more substantial. They need to dig in the Spruce report and counter each and every single element of discrepancy. Very time consuming. This requires crisis management. DaSilva will not leave the office tonight ... GLTA