Why Shares Of Oatly Group Are Trading Lower Again On Thursday

Oatly (NASDAQ: OTLY) shares are trading lower on continued weakness after Spruce Point Capital on Wednesday issued a bearish report on the company.

Spruce Point accused the company of revenue and gross margin overstatement. An Oatly spokesperson on Wednesday told Benzinga the company rejects all claims and 'stands behind all activities and financial reporting.'

Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. Some of its products include Oat Drink, Chilled Oat Drink, Oatgurt, Creamy Oat, Icecreams, among others.

At the time of publication, shares of Oatly were trading 10% lower at $18.49. The stock has a 52-week low of $18.39 and a 52-week high of $2