- Progyny (NASDAQ:PGNY) slipped 5% amid a new short call from Hedgeye, which sees potential for 20%-30% downside for the fertility firm.
- "While PGNY's growth has been remarkable, the environment of the last 3 years has been exceptionally positive and unlikely to continue," Hedgeye analyst Tom Tobin wrote in a note on Wednesday. "We think there are a number of points in the PGNY model that are vulnerable to the economic slowdown."
Progyny (PGNY) shares could slip 20%-30% to $22 to $25 a share, according to Hedgeye.
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