EHang Holdings tumbles after Hindenburg Research releases short report
EHang Holdings shares plunged Tuesday after short-seller Hindenburg Research released a report on the company, alleging it has"fake sales."
According to Hindenburg, which has taken a short position in EHang, the company's"hollow order book and fake sales" make the company"last in line for takeoff." "EHang’s competitors have hundreds of millions in cash, while EHang has only $44.9 million left, representing limited runway in the capital-intensive aviation industry," said Hindenburg, claiming that the company was short in cash in July before a $23 million capital raise"led by a South Korean music producer who was previously put on an INTERPOL wanted list."
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