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Chemours shares plunge amid Citron report

A lab worker at Spark Therapeutics in Philadelphia, PA.
Brad Quick | CNBC

Shares of Chemours recovered from a steep decline after short-seller Citron Research released a report calling the U.S.-based chemical firm "a zero."

"Highly material events for Chemours are unfolding nearly every day in the matter of DuPont's liabilities due to its manufacturing of C8 — also known as PFOA, and its 60 year pattern of willfully hiding its knowledge that the chemical was toxic at extremely low levels of exposure, and was being dumped into the environment at its facilities. DuPont dumped these liabilities into spin-off Chemours," Citron said in its report. "But don't count on Chemours to disclose these material events."

Chemours' stock fell as much as 9 percent in Thursday's trading session, before recovering to close more than half a percent higher. Chemours did not immediately respond to CNBC's request for comment.

Andrew Left, Citron Research
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Greenlight Capital, the hedge fund run by David Einhorn, raised its stake in the Chemours by 5.44 million shares to 8.84 million, according to a recent 13F filing. Greenlight did not immedately respond to CNBC's request for comment.

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Source: FactSet