Tingo shares dives after Hindenburg continues to be on short position

Tingo

31/08/2023 22:59

** Shares of fintech firm Tingo  TIO.O  dived 13% to $1.12
in extended hours of trading 
    ** Hindenburg Research on Thursday says "we are short shares
of Tingo Group" 
    ** Tingo's investigation into itself was filled with
inconsistencies and fresh evidence that it continues to outright
lie to investors - Hindenburg
    ** Co on Wednesday said it has completed an investigation of
allegations made by the short seller against it in June
   ** Short seller in June had criticized TIO's founder and
alleged the firm "fabricated" its financials
    ** YTD, TIO shares are up ~55.4%

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))