Shrek Takes a Swamptastic Look at Temenos' Troubles: Shares Down 6%!

Another Blow for Temenos

Well well well looks like Temenos is having a rough time just like Fiona when she's hangry. Shares in the Swiss software company were down over 6% on Friday afternoon. And if you think that's bad just wait till you find out what caused this swampy mess.

Smells Like a Refutation

Temenos released a statement refuting a report by none other than Hindenburg Research. I mean Hindenburg? Are they trying to burn this company to the ground? Anyway Temenos called out the report saying it contains "factual inaccuracies and analytical errors." Sounds like they're not buying it just like Donkey when I tell him I'm going on a diet.

No Comment Zone

According to the statement Temenos wasn't even given a heads up about the report. No contact in advance? That's just rude like Lord Farquaad trying to marry Princess Fiona without even getting to know her. Talk about a lack of manners.

Results Are In

Temenos will be releasing its audited 2023 results after market close on Monday. And guess what? They claim the earnings are in line with the announcement made earlier this year. So no surprise twists like when I found out I was going to be a father ogre.

Hindenburg Strikes Again

Hindenburg Research known for targeting short selling opportunities alleged "manipulated earnings and major accounting irregularities" at Temenos. They even conducted a four month investigation talking to 25 former employees and digging through financial statements. It's like they're trying to uncover a secret like the location of my precious onions.

Adani Drama Deja Vu

It seems Hindenburg has a taste for controversies just like I have a taste for swamp mud. They previously targeted investor Carl Icahn's Icahn Enterprises and Indian giant Adani Group. In fact their report on Adani accused them of "stock manipulation and accounting fraud scheme over the course of decades." Drama drama drama.