Shares in EIGI plunge as company struggles to service its debt

Shares of Nasdaq-listed Endurance International Group plummeted on concerns its may be unable to service its debt, with boutique research house Gotham City Research calling the firm’s solvency into question.

In its research report the analysts said the SMB Web services provider’s profit figures are suspect.

“EIGI shares will go to $0.00 per share, as the company will struggle to service its debt," Gotham said.

Moreover, EIGI held thousands of spam/malware sites, including terrorist sites, until only a few weeks ago.

As of 17:12 the company’s stock was 21.71% lower at $15.98, giving it a market capitalisation of $3.02bn.