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Here's How You Could've Played The Downside In Electronics For Imaging

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Here's How You Could've Played The Downside In Electronics For Imaging
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Shares of Electronics for Imaging, Inc. (NASDAQ: EFII) took a big dive Thursday after GlassHouse Research issued a negative report claiming that the company’s accounting irregularities parallel Tyco.

Benzinga Pro users were the first to receive the news of this report.

Related Link: GlassHouse: Electronics For Imaging's Balance Sheet 'Littered With Irregularities', Sees 72% Downside

GlassHouse estimates there is approximately 72 percent downside for the stock. The firm initiated a $13.50 price target on Electronics for Imaging, calling the company a "Terminally ill roll up... Which uses every accounting gimmick in the book to mask true economic earnings."

The high for Electronics for Imaging Thursday was $46.13 and was trading around $45.23 when Benzinga Pro first reported the news. Nearing the closing bell, the stock was trading at $43.09 down more than 7.5 percent on the day.

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