Ebang Stock Price Increased Over 5% Pre-Market: Why It Happened

By Amit Chowdhry ● April 7, 2021
  • The stock price of Ebang International Holdings (NASDAQ: EBON) increased by over 5% pre-market. This is why it happened.

The stock price of blockchain technology company Ebang International Holdings (NASDAQ: EBON) increased by over 5% pre-market. Investors appear to be responding to Ebang issuing a statement to the short seller report published by Hindenburg Research on April 6.

“Based on the review by the company’s management team, we believe that the Hindenburg Report contain many errors, unsupported speculations and inaccurate interpretations of events. The Company’s Board of Directors has also been made aware of the Hindenburg Report,” said Ebang in a statement. The Board, together with its Audit Committee, intends to further review and examine the allegations and misinformation therein and will take whatever necessary and appropriate actions may be required to protect the interest of its shareholders.”

Ebang also noted that it aims to provide full and “accurate disclosure to investors and rebut any false claims that attempt to impair market confidence in EBON’s business, operations, and financial statements.”

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.