Golden Heaven Group extends drop after near 90% slump on Thursday
08/12/2023 14:02
** U.S.-listed shares of amusement park operator Golden
Heaven Group Holdings GDHG.O fall 224% to $1.80 premarket -
set to hit a record low if declines hold
** The stock plunged nearly 89% in the previous trading
session as GDHG said it intends to enter into an operating lease
framework agreement with a "top-tier" Chinese amusement group
** The co's market cap dropped to $120 mln on Thursday from
$1.01 bln a day earlier
** Hindenburg Research had disclosed a short position on
GDHG on Nov. 13, accusing co of inflating guest numbers, which
sent the stock 27.9% lower
** In response, co said the report was "carelessly
assembled" and contained "factual errors" and was also
investigating and working towards providing full disclosures to
the claims
** GDHG did not immediately respond to a Reuters request for
comment on the reason for Thursday's share fall
** GDHG debuted on Nasdaq in April this year at an IPO price
of $4
(Reporting by Purvi Agarwal in Bengaluru)
((Purvi.Agarwal@thomsonreuters.com))