Biopharmaceutical company Renovaro BioSciences was put under the investor microscope as renowned short-seller Hindenburg Research called out its merger with Netherlands-based AI medical startup GEDi Cube, alleging inflated valuations and revisiting a history of controversy.

Like a story out of the mind of H.P. Lovecraft, Hindenburg’s report also features a hitman, a magician, and artificial intelligence in an eyebrow-raising narrative.

In Hindenburg Research’s latest disclosure, the company notes that it has taken a short position in publicly traded Renovaro shares and encourages readers to do their due diligence. In the report, Hindenburg Research said the AI promises are overstated and called attention to founder Serhat Gumrukcu’s past run-ins with the law.

In finance, short selling refers to a trading strategy where investors sell borrowed shares, hoping to repurchase them at a lower price, aiming to profit from the price difference. Hindenburg previously shorted Jack Dorsey’s Block, and attempted to crowdsource research into determining where the Tether stablecoin gets its backing.

Go to Source to See Full Article
Author: Jason Nelson

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details