Globe Life Inc. (NYSE:GL) shares are trading higher Friday amid volatility following a short report on the stock from Fuzzy Panda Research.
The Details:
Globe Life shares fell more than 50% Thursday following the release of a short report from Fuzzy Panda Research which alleged multiple instances of insurance fraud. The company later issued a response refuting the claims in the report.
Globe Life shares are rebounding on heavy trading volume Friday. According to data from Benzinga Pro, more than 5.2 million shares have already been traded in the session, exceeding the stock’s 100-day average of 1.378 million shares.
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