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Company Perspectives and Short-sellers Allegations
In August 2020, a company in possession of disruptive technology within the medical device sector, Nanox (NNOX), held a successful IPO on the NASDAQ exchange. Subsequently, in September 2020, two investment research firms known for their investigative reports into allegedly overvalued or fraudulent companies (specializing in advising investors on opportunities for short selling, AKA shorting overvalued stocks), Citron Research and Muddy Waters Research, released two “Short Sellers Reports” that alleged various forms of misconduct surrounding the Nanox company.
Upon analysis, it is clear that the Short Sellers Reports produced by the investment research companies were part of an orchestrated media attack aiming to promote short-sale-related capital gains by artificially lowering the share price of Nanox.
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