Micromobility.com Inc. Strengthens its Commitment to Shareholders Amidst Detected Trading Imbalances
NEW YORK--(BUSINESS WIRE)--Jul. 24, 2023--
micromobility.com Inc. (NASDAQ: MCOM), leading micromobility ecosystem, today announced that Shareholder Intelligence Services LLC (“ShareIntel”) extensive analysis of MCOM stock, has identified consistent imbalances and reported short interest, signaling the potential presence of illegal naked short sales. When compared to the average trading volume, these imbalances prove to be notably significant. The Company continues to be committed to taking all necessary actions to protect the interests of its shareholders and will continue to work with ShareIntel and other partners to combat potential manipulative trading activities to help ensure fair market conditions.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230724707489/en/
The sustained imbalances reveal a long-term trend among firms maintaining these positions, implying that they do not correspond to standard day-to-day trading activities. A continued comprehensive examination is imperative to determine the root causes of these irregularities. Given that the imbalances do not seem to stem from regulated trading activity, it is crucial to investigate alternative explanations beyond the existing regulatory framework.
In light of the persistent nature of these imbalances and their potential ramifications, it is essential to carry out further investigations to guarantee market integrity and adherence to regulatory standards. These steps include continuing working with ShareIntel to undertake a comprehensive analysis of data derived from broker-dealers, clearing firms and other sources to provide actionable intelligence on potential market manipulation.
Salvatore Palella, micromobility.com Inc's CEO, stated, “We want to ensure that MCOM is not the target of market manipulation. Our primary responsibility is to protect our investors and ensure a fair and transparent financial environment. We are looking to take decisive action and the Company will do everything in its power to address any evidence of improper trading in MCOM securities.”
About micromobility.com Inc.
micromobility.com Inc., a disruptive leader in the micromobility sector, founded by Salvatore Palella in 2015, combines expertise in retail, shared services, and vehicle rentals to revolutionize urban transportation. With operations spanning across the US and Europe, the holding group encompasses shared micromobility solutions through Helbiz Inc., vehicle rentals via Wheels Labs Inc. and e-commerce and planned brick-and-mortar stores via the micromobility.com brand. Committed to providing eco-friendly, affordable solutions and enhancing global accessibility, micromobility.com Inc. sets the standard for professional excellence in the micromobility landscape. For more information, visit www.micromobility.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230724707489/en/
For media inquiries:
Source: micromobility.com Inc.