Datavault AI\u2019s stock went down by almost 10% after Wolfpack Research said it had bet against the company. The short-seller claimed Datavault was making big promises that didn\u2019t seem real and questioned the people leading it.<\/p>\n
Wolfpack said Datavault was making empty statements about using advanced tech like AI, quantum computing, and Web 3.0. They pointed out that the company\u2019s CEO, Nathaniel Bradley, had settled charges with the SEC in the past and was linked to Edward Withrow III, who is a convicted felon.<\/p>\n
The report also warned investors about possible share dilution. It mentioned a $150 million deal with Scilex Holding Company that could almost double the number of Datavault\u2019s shares if it goes through. Wolfpack even questioned whether the company providing the money, Biconomy PTE.LTD, was real.<\/p>\n
Investigators from Wolfpack visited Datavault\u2019s so-called \u201cCenter for AI and Quantum Computing Excellence.\u201d What they found was a small 2,800-square-foot office with just a few employees, not the large 22,000-square-foot setup with data centers that the company had described.<\/p>\n
Wolfpack also said Datavault\u2019s blockchain platform was barely active. The NFTs it offered were odd, including things like photos of Dr. Oz or Putin vomiting, and almost no one was trading them.<\/p>\n
Before all this, Datavault\u2019s stock had jumped nearly 800%, which Wolfpack claimed was the result of misleading press releases and paid promotions rather than real business growth.<\/p>\n","protected":false},"excerpt":{"rendered":"
Datavault AI\u2019s stock went down by almost 10% after Wolfpack Research said it had bet against the company. The short-seller\u2026<\/p>\n","protected":false},"author":294,"featured_media":93688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[33870],"class_list":["post-93687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-markets","tag-datavault-ai"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/93687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/294"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=93687"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/93687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/93688"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=93687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=93687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=93687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}