Fast-growing Canadian technology company Lightspeed is pushing back after a short seller alleged the company has misled investors about its financial health, causing a $2 billion plunge in the company's value. WATCH | Spruce Point lays out its case against Lightspeed:"We believe Lightspeed is crowding into Shopify's space, and will be forced to compete head-to-head with it, and new entrants such as Amazon. We believe Lightspeed will lose the battle." Spruce Point says the company is massively overvalued, and is poised to plummet to as low as $22 a share. Short sellers such as Spruce Point make money when stocks in the companies they are shorting go down.

Source: CBC News September 30, 2021 15:03 UTC