Why the Tyro (ASX:TYR) share price is on watch today

The Tyro Payments Ltd (ASX: TYR) share price is one to watch this morning as the Aussie payments company looks to respond to an activist short-selling report.

Why is the Tyro share price on watch?

According to an article in the Australian Financial Review (AFR), Tyro executives have been working on a response to the allegations.

The Tyro share price plummeted 11.8% lower on Friday after a short-seller released a damaging report. Viceroy Research alleged that 50% of Tyro’s payment terminals were experiencing problems — more than the company had previously announced.

Tyro had previously updated the ASX on the terminal outage in early January. On 13 January, the company said 19% of merchants were “impacted” by the outage