On April 24, 2024, during market hours, Investing.com issued an article entitled, “Backblaze stock plunges amid Morpheus Research report.” This article stated that Backblaze “saw its shares plummet” as a result of a “scathing short report from Morpheus Research. The report detailed a series of alleged financial missteps and questionable practices since the company’s initial public offering (IPO) in November 2021.” The article further noted that Morpheus’s report “highlights questionable accounting practices, including financial manipulations and inflated forecasts to pass audit thresholds.”
On this news, Backblaze stock fell 2.1% on April 24, 2025.
