Future FinTech stock plummets 13%: SEC accuses CEO! | Capita Match

TLDR:

– Future FinTech Group’s stock dropped by 17% in after-hours trading after the Securities and Exchange Commission (SEC) charged CEO Shanchun Huang with allegedly inflating the company’s share price.
– The SEC claims that Huang used manipulative trading techniques to boost the stock’s price, preventing it from being delisted from the Nasdaq exchange.

Shares of Future FinTech Group (FTFT) fell by 17% in after-hours trading after the Securities and Exchange Commission (SEC) charged CEO Shanchun Huang with allegedly inflating the company’s share price. The stock is currently trading at $1.07 and has seen a decline of over 48% in the past year.

According to the SEC, Huang used manipulative trading techniques in early 2020 to elevate the fintech firm’s share price. The goal was to prevent the company from being delisted from the Nasdaq exchange. The complaint filed by the SEC claims that Huang engaged in these practices just before he took over as CEO.

Post Views: 74

visimoney

Previous Story

Financial smarts spread wings: 8 states to half, education reigns

Next Story

Banks boost ESG interest, keeping climate-conscious customers satisfied.

Latest from Blog

Aussie Fintech Simplifying Money Transfers to the Philippines

TLDR: Australian fintech company Stables has launched international remittance services between Australia and the Philippines. This service will allow users in over 130 countries to send Australian Dollars or Philippine Pesos to

Gen Z workers prefer DailyPay for on-demand pay options.

TLDR: Gen Z hourly workers prefer on-demand pay options for financial security. Most Gen Z workers like their job, with financial security being a top motivator. Article Summary: Gen Z hourly workers,

Breaking news: Chime prepping for possible 2025 IPO in Fintech Nexus.

Summary of Fintech Nexus Newsletter (March 25, 2024) TLDR: Chime, the largest consumer-facing fintech in the country, is planning a potential IPO in 2025. Chime has more primary accounts than Chase, with

Visa Africa Fintech Accelerator supports $1bln investment in Africa by 2027.

TLDR: Visa Africa Fintech Accelerator program aligns with Visa’s $1 billion investment pledge in Africa by 2027. The program supports fintech startups in Africa through mentorship, training, and networking opportunities. The Visa

MTN’s fintech transactions hit 17.6 billion in Nigeria by 2023.

TLDR: Key Points: MTN’s fintech transaction volume in Nigeria increased to 17.6 billion in 2023. MTN reported a resilient performance in 2023 despite profit loss in Nigeria. Despite a major profit loss

Don't Miss

Aussie Fintech Simplifying Money Transfers to the Philippines

Gen Z workers prefer DailyPay for on-demand pay options.