9/22/2020, 2:43 PM (Source: TeleTrader)
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Nanox shares drop 17% on new 'no product' remark

Nanox Imaging shares dropped over 17% in premarket trade on Tuesday as the company faced new accusations that it actually has no product to sell.

Just over two hours before the opening bell on Wall Street, Muddy Waters Research said that it was short Nanox because the company "has no product to sell other than its stock." Additionally, the short seller compared Nanox to Nikola as it claimed both companies had faked their promotional videos showing products. "A convicted felon appears to be behind the IPO. A US partner has been requesting images for 6 months to no avail," Muddy Waters Research said, without naming the individual it was referring to.

Nanox shares fell 16.13% at 8:39 am ET.

Previously, the medical technology company denied similar claims by Citron.

Baha Breaking News (BBN) / VP