micromobility.com Inc. Uncovers Consistent Trading Imbalances, Intensifies Measures to Protect Shareholder Interests and Ensure Fair Market Conditions
24 Julho 2023 - 9:00AM
Business Wire
Micromobility.com Inc. Strengthens its
Commitment to Shareholders Amidst Detected Trading Imbalances
micromobility.com Inc. (NASDAQ: MCOM), leading micromobility
ecosystem, today announced that Shareholder Intelligence Services
LLC (“ShareIntel”) extensive analysis of MCOM stock, has identified
consistent imbalances and reported short interest, signaling the
potential presence of illegal naked short sales. When compared to
the average trading volume, these imbalances prove to be notably
significant. The Company continues to be committed to taking all
necessary actions to protect the interests of its shareholders and
will continue to work with ShareIntel and other partners to combat
potential manipulative trading activities to help ensure fair
market conditions.
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The sustained imbalances reveal a long-term trend among firms
maintaining these positions, implying that they do not correspond
to standard day-to-day trading activities. A continued
comprehensive examination is imperative to determine the root
causes of these irregularities. Given that the imbalances do not
seem to stem from regulated trading activity, it is crucial to
investigate alternative explanations beyond the existing regulatory
framework.
In light of the persistent nature of these imbalances and their
potential ramifications, it is essential to carry out further
investigations to guarantee market integrity and adherence to
regulatory standards. These steps include continuing working with
ShareIntel to undertake a comprehensive analysis of data derived
from broker-dealers, clearing firms and other sources to provide
actionable intelligence on potential market manipulation.
Salvatore Palella, micromobility.com Inc's CEO, stated, “We want
to ensure that MCOM is not the target of market manipulation. Our
primary responsibility is to protect our investors and ensure a
fair and transparent financial environment. We are looking to take
decisive action and the Company will do everything in its power to
address any evidence of improper trading in MCOM securities.”
About micromobility.com Inc.
micromobility.com Inc., a disruptive leader in the micromobility
sector, founded by Salvatore Palella in 2015, combines expertise in
retail, shared services, and vehicle rentals to revolutionize urban
transportation. With operations spanning across the US and Europe,
the holding group encompasses shared micromobility solutions
through Helbiz Inc., vehicle rentals via Wheels Labs Inc. and
e-commerce and planned brick-and-mortar stores via the
micromobility.com brand. Committed to providing eco-friendly,
affordable solutions and enhancing global accessibility,
micromobility.com Inc. sets the standard for professional
excellence in the micromobility landscape. For more information,
visit www.micromobility.com.
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