Yalla Group Responds To Swan Street Research's Short Call Report

  • Yalla Group Ltd YALA has confirmed short attack reports containing multiple inaccurate and unproven claims regarding the company.
  • Yalla’s response is to Swan Street Research’s short call report, which sees the stock at $1-2 per share, implying a 90% downside.
  • Short-seller Gotham City Research had compared Yalla to Let’s Gowex and Luckin Coffee in a series of tweets.
  • Yalla said that the attacks were meant to cause a stock price decline to benefit the short sellers and harm the public shareholders.
  • The short attack reports also depicted the authors’ lack of understanding of the company’s business model, Yalla added.
  • Yalla will consider necessary action to protect the company and stakeholders’ interests.
  • Yalla has vouched for the accuracy of its audited financial statements and other public disclosure filed with the SEC and investors.
  • Price action: YALA shares closed lower by 7.15% at $17.01 on Wednesday.
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