Jehoshaphat Research short Progyny, says company ‘actually unprofitable’

Jehoshaphat Research said in a recently published report that it is short Progyny as it believes the latter is "deceiving the investor community via its financial reporting practices." "These practices rely on complex accounting that PGNY appears to have been exploiting for years. We believe that PGNY recently has taken its aggression to a brazen level by secretively changing important accounting policies that materially inflate profits. We calculate that PGNY is actually unprofitable, but masks this problem with accounting games," the report reads. Reference Link