Bausch Health Stock Swings Wildly as it Addresses Report It's Considering Bankruptcy

It was rather a time for shares of Bausch Health Cos. (BHC), which were trim astir successful half earlier recovering arsenic it addressed a investigation firm's study saying it was mulling bankruptcy options.

Bausch's banal vanished Wednesday down 23%, supra earlier lows that represented their lowest level successful astir 20 years. After trading successful nan shares was halted Wednesday afternoon, nan pharmaceutical institution issued a connection citing a study by Reorg.

Investopedia has not publication nan report, and Reorg did not respond to a reporter's petition successful clip for publication.

“The [Reorg] article contains unsubstantiated rumors, including that nan institution is considering a bankruptcy aliases insolvency proceeding of immoderate benignant — it is not,” nan institution said. “We understand that Reorg has subsequently issued an update to its original news article to explain that nan institution has not been progressive successful discussions pinch its creditors regarding bankruptcy proceedings.”

Bausch is scheduled to study second-quarter results earlier nan opening doorbell connected August 1. In nan first quarter, nan institution posted a nett nonaccomplishment of $64 million.