Difference between revisions of "Chinese Drone-maker apos;s Stock Plunges On Negative Short Seller Report"
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| − | <br>NEW YORK, Feb 16 (Reuters) - Shares of drone manufacturer EHang Holdings Ltd | + | <br>NEW YORK, Feb 16 (Reuters) - Shares of drone manufacturer EHang Holdings Ltd plunged on Tuesday after an investment research firm said it had shorted the stock and questioned the accuracy of what the Chinese company has said about its business.<br> <br>Shares of Guangzhou, [http://www.ajaxtime.com/?s=China-based%20EHang China-based EHang] closed down 62.7% at $46.30 a share on Nasdaq.<br> <br>Wolfpack Research, which [http://www.bing.com/search?q=specializes&form=MSNNWS&mkt=en-us&pq=specializes specializes] in short selling, or [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour quảng châu] betting that shares will fall, said EHang is "an elaborate stock promotion" and [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html kynghidongduong.vn] that the producer of unmanned aerial vehicle technology has lied about its products, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour quảng châu] manufacturing, revenues and partnerships.<br> <br>There was no immediate response to an e-mail sent to EHang's U.S.<br><br>investor relations representative seeking comment.<br> <br>EHang's stock soared from around $13 a share in early December to $124.09 on Friday. The stock made its U.S. debut in December 2019 after an initial public offering priced at $12.50 share. (Reporting by Herbert Lash; Editing by Dan Grebler and David Gregorio)<br> |
Revision as of 21:43, 9 May 2021
NEW YORK, Feb 16 (Reuters) - Shares of drone manufacturer EHang Holdings Ltd plunged on Tuesday after an investment research firm said it had shorted the stock and questioned the accuracy of what the Chinese company has said about its business.
Shares of Guangzhou, China-based EHang closed down 62.7% at $46.30 a share on Nasdaq.
Wolfpack Research, which specializes in short selling, or tour quảng châu betting that shares will fall, said EHang is "an elaborate stock promotion" and kynghidongduong.vn that the producer of unmanned aerial vehicle technology has lied about its products, tour quảng châu manufacturing, revenues and partnerships.
There was no immediate response to an e-mail sent to EHang's U.S.
investor relations representative seeking comment.
EHang's stock soared from around $13 a share in early December to $124.09 on Friday. The stock made its U.S. debut in December 2019 after an initial public offering priced at $12.50 share. (Reporting by Herbert Lash; Editing by Dan Grebler and David Gregorio)