Trust Stamp Announces Proposed Action To Address Suspected Naked Short-Selling
Portfolio Pulse from Happy Mohamed
Trust Stamp (NASDAQ:IDAI) is considering measures to address potential illegal short selling of its stock, which it believes may have artificially depressed its stock price. The company's board will consider options including the engagement of forensic experts and working with other listed companies that have identified similar trading activity. The SEC has placed the stock on the 'Threshold List' due to failures to deliver, which can be indicative of naked shorting.
August 24, 2023 | 1:14 pm
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POSITIVE IMPACT
Trust Stamp's stock price may have been artificially depressed due to potential illegal short selling. The company is considering measures to address this, which could lead to a recovery in the stock price if successful.
The company's announcement of measures to address potential illegal short selling could restore investor confidence and lead to a recovery in the stock price. However, the outcome will depend on the success of these measures and the extent of the alleged illegal activity.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100