Shares of Hellbiz Inc.
jumped 41.3% in midday trading Monday and has more than doubled in two days, after the e-bike and scooter supplier said it had hired Shareholder Intelligence Services LLC (ShareIntel) to help. against alleged illegal short selling its shares. ShareIntel is same company used by Genius Group Ltd.
to help investigate the illegal manipulation of its stock price through naked short selling. Shares of Genius Group, up 24.7% on Monday, jumped 648% in three days. “Based on the stock’s trading pattern, we are concerned that our company may be the target of a market manipulation scheme involving the unauthorized short selling of our stock over the past year. , and we are committed to investigating and exposing any wrongdoing,” said Hellbiz CEO Salvatore Palella. “By leveraging ShareIntel’s patented processes and proprietary analysis, we will be able to find reporting anomalies among market makers, banks, brokers, and brokers. world and clearing companies.” Shares of Hellbiz, which jumped 142% in two sessions, have gained 4.7% in the past three months but have plummeted 92.8% in the past 12 months, while the S&P 500 has gained 7.3% in three months. past and lost 8.4% in the past year.