Short Seller Ningi Slams Oddity Tech (ODD) Stock in New Report

Core Viewpoint - Oddity Tech's stock is experiencing significant declines following a short report from Ningi Research, which raises concerns about the company's claims and business practices [1][4]. Group 1: Allegations by Ningi Research - Ningi Research alleges that Oddity Tech operates over 40 physical retail locations in Israel, contradicting its portrayal as an online-only retailer [2]. - The report suggests that a substantial portion of Oddity Tech's business is derived from these physical locations, challenging the company's narrative of strong online sales in the U.S. [2]. - Ningi Research criticizes Oddity Tech's profit generation methods, claiming that customers are misled into non-cancelable subscriptions through deceptive AI quizzes [3]. Group 2: Stock Performance - Following the release of the short report, Oddity Tech's stock (ODD) has seen heavy trading, with over 2.6 million shares exchanged, surpassing its average daily volume of approximately 1.1 million shares [4]. - As of Tuesday morning, Oddity Tech's stock is down 14.7% for the day and has declined 21.6% year-to-date [4].