Aterian drops after a new short report from Culper Research (update)

• Update 7:32am: Adds company response to short report.
• Aterian (NASDAQ:ATER) fell 12% after Culper Research released a new short report, questioning the background of management and the company's core business.
• Culper Research claims Aterian is an "overhyped AI" narrative that has done a "string of garbage" acquisitions.
• Aterian in a statement called the claims in the report "false and misleading."
• A recent report by Culper Research contains numerous false and misleading statements about our company." Aterian said. "It seems clear to us that this report is an attempt by a short seller to negatively impact and manipulate Aterian’s share price solely for its own benefit. We caution shareholders from making investment decisions based on this report."
• In December, Aterian (formerly Mohawk Group Holdings) announced acquisition of four e-commerce business brands, uplifted FY20 guidance.