Chinese drone maker EHang’s U.S.-listed stock closed down 62.69 percent to $46.30 after short-seller Wolfpack Research questioned the accuracy of the company’s description of its business.
Chinese drone maker “EHang” (EHang)
Reuters reported that Wolfpack Researchy called EHang “a well-pulled stock” in a report, saying it had lied about its products, manufacturing, revenue and partnerships, and that the company was doomed to collapse.
EVA responded by stating that Wolfpack Research’s report contained numerous errors, unsubstantiated statements and misinterpretations of information, emphasizing that the company is committed to maintaining the highest standards of corporate governance and complying with SEC and Nasdaq stock market regulations, and that it will consider any action necessary and appropriate to protect the company and all of its shareholders. interests.
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