Shares of DLocal (NASDAQ: DLO) plunged over 20% in today’s session. This can be attributed to a short seller report from Muddy Waters Research. The short seller has concerns with the payment service provider’s disclosures.
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Muddy Waters believes that DLocal is cooking the books, meaning it’s misrepresenting its financial results. Essentially, this implies that the company is committing fraud.
DLocal has not yet responded to the short seller’s claims.
Is DLO a Good Stock to Buy?
DLO stock has a Hold consensus rating based on one Buy and one Sell assigned in the past three months. The average DLO stock price target of $32.50 implies over 103% upside potential.
