Why Alphatec Holdings Shares Are Getting Hammered Today

Alphatec Holdings Inc ATEC shares are trading lower by 14.48% to $6.77 Thursday morning after Bonitas Research released a short report on the stock.

Bonitas Research Thursday morning tweeted: "Bonitas is short $ATEC. Evidence shows ATEC employees and ATEC shareholders were used to secretly operate undisclosed related party distributors since 2017."

Bonitas Research continued, "Evidence revealed that at least two former ATEC employees established supposedly 'independent”' ATEC distributors while being employed by ATEC. In addition, we found two ATEC shareholders established supposedly 'independent' ATEC distributors while being $ATEC shareholders."

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Alphatec Holdings is a medical technology company focused on the design, development, and advancement of products for the surgical treatment of spinal disorders.

According to data from Benzinga Pro, Alphatec Holdings has a 52-week high of $15.78 and a 52-week low of $6.16.