Muddy Waters Research just tweeted that it is short Nano-X Imaging Ltd. (NASDAQ:NNOX) citing no products yet to sell, an allegedly faked demo video, a dubious character behind its IPO and a U.S. partner that has been requesting images for six months to no avail.
Until recently, the stock was a huge winner, peaking at $66.67 on September 11, up 270% from the $18 offer price. Shares have since sold off, down 57% since then.
The company claims to have developed an inexpensive imaging system called Nanox ARC. It has stated publicly that it expects to deploy 1,000 devices by year-end and 15,000 by 2024.
Citron Research is another bear. Andrew Left regards the company as the “most blatant stock promotion scheme we’ve seen in years.”
https://seekingalpha.com/news/3616069-muddy-waters-latest-nano-x-imaging-bear
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