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…