Investing.com issued an article on April 24, 2025, entitled, "Backblaze stock plunges amid Morpheus Research report." This article stated that Backblaze "saw its shares plummet" due to 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 also noted that Morpheus's report "highlights questionable accounting practices, including financial manipulations and inflated forecasts to pass audit thresholds."
Following this news, Backblaze stock fell during intraday trading on the same day.
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