Progyny: A Love Child Of Accounting Games & Credit Risk – Jehoshaphat
Jehoshaphat Research is short shares of Progyny (NASDAQ:PGNY), a company they believe is deceiving the investor community via its financial reporting practices. These practices rely on complex accounting that PGNY appears to have been exploiting for years. We believe that PGNY recently has taken its aggression to a brazen level by secretively changing important accounting policies that materially inflate profits. We calculate that PGNY is actually unprofitable, but masks this problem with accounting games. Q3 2022 hedge fund letters, conferences and more We believe the following accounting tri...