Gorilla Technology Group Inc (NASDAQ:GRRR) shares are tanking Thursday after The Bear Cave released a short report on the company. Here’s what investors need to know.
What To Know: Short seller The Bear Cave released a bearish report on Gorilla Technology Thursday morning in response to the stock’s approximately 1,200% rise over the past six months, driven by retail investor enthusiasm surrounding recent partnership announcements.
“The Bear Cave believes recent retail investor enthusiasm for the company may be premature,” the short seller said.
The Bear Cave pointed out several red flags at Gorilla Technology including the company’s aggressive pivot to AI technology, its revenue streams, unconventional partnerships and controls over financial reporting.
Benzinga has reached out to Gorilla Technology Group for comment on The Bear Cave report.
The Bear Cave noted that Gorilla Technology was founded …
