Spruce Point Re-Establishes Short Position In Echo Global Logistics, Inc. (ECHO)

Spruce Point Capital Management is pleased to announce it has released a critical update on Echo Global Logistics, Inc. (Nasdaq: ECHO), a poorly constructed roll-up of 3rd party logistics brokers.

[activistinvesting]

Spruce Point first reported on ECHO in September 2016, warning of 50%-60% downside risk; share subsequently collapsed 50% to $13 this year after ECHO suspended its long-term guidance and acquisition strategy. Due to temporary improvements in spot trucking prices post two hurricanes, shares have rallied back nearly 120% - making ECHO an attractive short again. We will explain how new developments in blockchain technologies being applied to the transportation and supply chain are highly likely to compress ECHO's margins and competitive position even further.

As a result, we have re-issued...