Flotek’s Data ‘Made Up’ Or ‘Rigged’: Bronte Capital

Flotek shares tumbled today in early trading after John Hempton of Bronte Capital published a blog post saying that the firm’s data just doesn’t work and “looks like it was made up or at least systemically rigged.” Shares of Flotek skidded by as much as 12.98% to $15.75 per share in heavy trading with 5.47 million shares changing hands as of 11:52 a.m. Eastern. The average daily volume is 1.17 million shares.

Flotek is the same company Praesidium Investment Management said it went...

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