What happens with the shares of the Hessay Group on Wednesday? – Hesai Gr (Nasdaq: HSAI)

Hessai Group Hasai The shares are traded in the pre -market session on Wednesday after allegations made by the dysfunctional seller The Blue Capital Orca yesterday.

Today, in response to a report issued by Blue OCA, Hesai strongly denied charges. “The company does not agree strongly with the allegations received in the report and believes that the report is in vain,” hessai said in a statement.

Blue Orca Capital “Hesai” described it as a “Chinese fraud” and accused the company with the participation of Zua with the Chinese army, noting the evidence indicating that the Lidar technology in Hesai is used in military vehicles.

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The short seller also indicated that the US Department of Defense described Hesai as a Chinese military company last year.

In addition, Blue Orca raised concerns about the financial statements of Hesai, claiming that the profitability of the company reported last year was the result of a $ 20 million disintegration fee of its largest customer, which was not disclosed for investors.

The report also claimed that Hesai may decrease up to 30 % of its working power.

This controversy follows a significant increase in stocks last week after Hesai announced a multi -year deal with Mercedes -Benz To provide Lidar sensors. Meanwhile, Blue Orca expressed doubts about the deal, noting that Mercedes did not publicly confirm and attract attention to stock sales by Hesai executives after the high price.

according to Benzinga ProHASI stock has lost more than 10 % in the past five days. The stocks gained more than 300 % during the past year.

Investors can expose the stock via SPDR S & P Kensho Smart Mobility ETF Construct and SPDR FACTSet Innovative Technology ETF Check.

PriceHSAI shares are traded by 3.45 % to $ 19.85 before marketing in the last selection on Wednesday.

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