Globe Life Sank by Record on ‘Inflammatory’ Short Report (3)

Globe Life Inc. dropped by a record on Thursday, closing at the lowest level in eight years after a short-seller report that the company refuted.

Shares dropped 53% during regular hours trading in a frenzied sell-off that triggered multiple volatility halts through the day. The rout followed a critical report from Fuzzy Panda Research, which said it had a short position in the life insurance company. Globe Life said it was disappointed to see “self-motivated short sellers push inflammatory allegations” in order to drive its stock price down, and that the company would look at all means of legal ...