Techtronic Industries Company Limited
|Company Name||Techtronic Industries Company Limited|
On February 22, 2023, Jehoshaphat Research published a report alleging, among other things, that Techtronic has been “inflating its profits dramatically for over a decade with manipulative accounting,” namely by “stuffing billions of dollars’ worth of routine expenses into various asset accounts, year after year.” The report also expressed doubts that the Company would be able to meet “consensus expectations for profit to continue its upwards trajectory in 2023.”
On this news, Techtronic’s stock price fell $3.55, or 5.7%, to close at $58.70 per share on February 22, 2023, thereby injuring investors.
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