Carsten Koerl, Chief Executive Officer of sportstech giant Sportradar, has fired back against allegations made by two short seller investment research firms.
[On April 22], Muddy Waters and Callisto Research published allegations of business misconduct by Sportradar. The duo are also both open about having shorted Sportradar stock.
The companies allege that Sportradar has been actively servicing hundreds of illegal gambling operators while simultaneously providing integrity monitoring services to both the legal industry and various professional sports organisations like FIFA and UEFA.
In the aftermath of the allegations, Sportradar’s stock on the New York Nasdaq dropped 23%. As both Muddy Waters and Calissto had shorted Sportradar stock – i.e. betting that it would drop in value – and the duo likely cashed in on this.
