SenseTime plunges after short seller alleges the Chinese AI firm inflated revenue
Publishing timestamp: 2023-11-28 04:40:21
Summary
Shares of Chinese artificial intelligence firm SenseTime fell after short seller Grizzly Research alleged that the company inflated its revenue. SenseTime denied the allegations and stated that the report lacked merit. The company has faced previous challenges, including being blacklisted by the U.S. government. Grizzly Research also criticized SenseTime's technology, claiming it lacks a competitive advantage.
Sentiment: NEGATIVE
Tickers: 20-HK,
Keywords: short selling, internet, enterprise, artificial intelligence, technology, cybersecurity, investment strategy, business news, sensetime group inc,
Source: https://www.cnbc.com/2023/11/28/chinese-ai-firm-sensetime-falls-after-short-seller-allegations.html