---
title: "CSG shares close 13% lower after short-seller report in worst day since IPO"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285099589.md"
datetime: "2026-05-04T16:46:16.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285099589.md)
  - [en](https://longbridge.com/en/news/285099589.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285099589.md)
---

# CSG shares close 13% lower after short-seller report in worst day since IPO

May 4 (Reuters) - Shares of Czech ammunition producer CSG (CSG.AS) fell 13% on Monday, their worst trading day since their January IPO, following a research report by Hunterbrook Capital, which noted that it held a short position in the defence company.

Hunterbrook questioned CSG’s business model and production capacity but CSG refuted the allegations, saying in a press release that it “strongly disagrees with the conclusions and assertions” presented by Hunterbrook.

Shares in Amsterdam-listed CSG closed down 13.1%, recouping some losses after falling as much as 26% earlier in the day. Since listing in January to capitalise on Europe’s defence boom, the stock has fallen by more than 50%.

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