Nearmap (NEA) $2.16

Nearmap (NEA) -7.3%: the latest ASX stock to be hit by a short seller report, NEA was down early before halting trade ahead of midday. Nearmap, which provides areal photomapping is being accused by J Capital of laying off staff and heavily discounting in an effort to keep customers in the key growth geography of North America. The report suggests their first mover advantage has eroded and as a result it doesn’t deserve the lofty multiple it trades at. Nearmap is expected to be back on the boards on Monday.