AAPL - Rockley Photonics down 7% after short report from Iceberg Research on tech roadblocks

Smartwatch and medical device biosensor developer Rockley Photonics Holdings (NYSE:RKLY) is down 7% after Iceberg Research issued a short report. That report argues that delays Apple (AAPL) has been experiencing in adding blood pressure and blood glucose tools in the Apple Watch are due to issues with Rockley (RKLY) technology. The firm said that press articles and interviews show Apple (AAPL) and Rockley (RKLY) have worked together on this technology since 2017. In addition, Iceberg did not find other spectroscopy companies in the health wearables space. Iceberg cited two Bloomberg articles that cite snags with adding the blood pressure and glucose monitoring features. "This delay ruins the optimistic forecast Rockley (RKLY) gave to SPAC investors," Iceberg said. "In our view, Rockley's (RKLY) revenue shortfall, coupled with its tight cash position and high burn rate, means the company must turn to heavily-dilutive financing sources like [Lincoln Park Capital] for its survival. For more

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Rockley Photonics down 7% after short report from Iceberg Research on tech roadblocks