Ebang: Tumbles after Hindenburg reveals short position

Sos

06/04/2021 14:41

** Shares of Chinese bitcoin mining machine maker Ebang
International Holdings Inc  EBON.O  plunge nearly 20% to a
one-month low of $5.10
    ** Short-seller Hindenburg Research takes a short position
in co, accuses EBON of directing capital out of the firm through
"a series of opaque deals" (https://bit.ly/3rXbbdI)
    ** Ebang did not immediately respond to a Reuters request
for comment
    ** Stock set for a third straight day of losses; up 4.6% YTD
    ** EBON is the second Chinese blockchain firm Hindenburg
revealed a short position in after Sos Ltd  SOS.N  in Feb; SOS
trading flat since Hindenburg tweeted its position, after
plunging 21% on the day of the tweet  urn:newsml:reuters.com:*:nL4N2KW53S
    ** Hindenburg had also taken short positions in Chinese 
electric truck maker Lordstown Motors  RIDE.O  and insurer
Clover Health  CLOV.O  earlier this year 
    ** RIDE dropped more than 16% on the day of the report and
has fallen an additional 21.7% since then; CLOV shares fell
12.3% on the day of the report and have dropped 38.7% since then

 (Reporting by Ambar Warrick in Bengaluru)
 ((Ambar.Warrick@thomsonreuters.com; +91-80-6182-2837; Reuters
Messaging: ambar.warrick.thomsonreuters.com@reuters.net;
Twitter: @AmbarWarrick))