Tingo Group slides after Hindenburg Research takes short position

Tingo

06/06/2023 14:25

** Shares of fintech firm Tingo Group  TIO.O  fall 44.7% to
$1.41 premarket
    ** Hindenburg Research says taking short position on TIO
    ** Hindenburg says "the company is an exceptionally obvious
scam with completely fabricated financials"
    ** Says identified 'major red flags' in Tingo Group Holdings
CEO Dozy Mmobuosi's background 
    ** Tingo did not immediately respond to a Reuters request
for comment
    ** About 10.68% of TIO's free float shares are shorted, as
per Ortex data
    ** Up to last close, TIO had gained more than 200% YTD

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))