Why Pagaya Technologies Stock Plummeted by 13% on Tuesday

A short-seller ripped into Pagaya Technologies (PGY -13.03%) in a report published on Tuesday, and the market reacted accordingly. The document raised enough concern to generate an investor sell-off, with the stock closing 13% lower as a result. Meanwhile, the S&P 500 (^GSPC 0.03%) essentially flatlined on the day.Sweeping allegationsThe firm behind the report is Iceberg Research, a business with a history of disseminating highly critical analyses of stocks it has shorted. In its latest report, bearing the ...