Hindenburg Research Shorts NexTech AR
Forensic research firm Hindenburg Research has announced a short position against NexTech AR, a provider of augmented reality solutions for firms which sell their products and services online.
Hindenburg says that NexTech AR "has virtually no credible business prospects and appears to be focused almost entirely on promoting its stock, and insider self-dealing", and "we spoke to customers and found that many of them – including ones featured by the company in its glowing press releases - were either entirely unaware they had a relationship with the company or had never actually implemented the product."
Hindenburg's report claims that it NexTech AR has displayed other red flags including recent CFO and COO departures and values the stock at zero.
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