Unusually active option classes on open July 2nd » 09:4007/0207/02/20
QTT, MT, INTC, PCG, GNUS, SFIX, FDX, DIA, PFE, TQQQ
Unusual total active…
Unusual total active option classes on open include: Qutoutiao (QTT), ArcelorMittal (MT), Intel (INTC), PG&E (PCG), Genius Brands (GNUS), Stitch Fix (SFIX), Fedex (FDX), Diamond ETF (DIA), Pfizer (PFE), and ProShares UltraPro QQQ (TQQQ).
|Over a quarter ago|
Wolfpack says Qutoutiao again 'pumping the stock' to let insiders sell » 09:5102/1002/10/20
Qutoutiao's co-founder and former CEO Lei Li on Friday disclosed a reduced stake in the company. Li reported an 8.0% stake, representing over 5.8M shares. Short seller Wolfpack Research tweeted this morning, "Check out what came out on $QTT's Friday night document dump: Former CEO Lei Li SC 13G/A, Feb 13, 2019 vs. Feb 7, 2020. He sold 1,686,249 ordinary shares - that equates to 6,744,996 ADSs...This made us take a second look at Mr. Li's holdings: He sold those 6.75 million ADSs between his SC 13G on Feb 13, 2019, and $QTT's 424B5 from April 3, 2019 (i.e., he cashed out at the highs). Obviously, they are pumping the stock to let insiders cash out AGAIN."
Qutoutiao CFO Jingbo Wang resigns due to personal reasons » 06:0201/2201/22/20
Qutoutiao announced a…
Qutoutiao announced a transition in the role of the company's CFO and a change in the Board. Jingbo Wang has resigned as a Director and CFO of the company due to personal reasons. The resignation is effective on January 22. Following Wang's resignation, the Board of the company is now comprised of seven members. Wang's duties of financial management will be assumed by Xiaolu Zhu, the current Co-CFO responsible for investor relations and capital markets related affairs of the company.
Qutoutiao calls Wolfpack Research report 'false and misleading' » 07:3612/2712/27/19
Qutoutiao responded to…
Qutoutiao responded to the 'false and misleading statements' made by a report published by Wolfpack Research on December 10, 2019. The company said, "The statements in the Report are based on numerous factual errors and an overall misunderstanding of the Company's business. The Report arrived at false conclusions after misquoting by a wide margin our publically disclosed financial figures and making a series of unsubstantiated claims some of which can easily be proven to be fabrications.The Company is committed to the highest standards of conduct. Our consolidated financial statements are prepared in accordance with U.S. GAAP and in compliance with the rules and regulations of the SEC...The Report's claim that our revenues are fake is due to a lack of understanding of our business and accounting standards...The Report's claim that our cash balance is fake is groundless..The Report has falsely concluded that Dianguan has no actual operations just because they "found no Dianguan staff standing by and ready to take orders", which is an unfortunate result of not understanding that Dianguan mainly operates its business through second-tier advertising agents...The Report Has Been Inconsistent and Dishonest in Referencing the Lawsuits Qutoutiao Has Handled."
Qutoutiao subsidiaries reportedly had equity frozen, Wolfpack Research says » 14:4112/2612/26/19
Wolfpack Research, who…
Wolfpack Research, who issued a short report on Qutoutiao on December 10, just tweeted, "Beijing News reporting 5 of $QTT's subsidiaries had their equity frozen by the Shanghai Jiading District People's Court yesterday. Seems pretty serious to us but of course no 6-K from the company. We're not holding our breath for disclosure here in the US." Shares of Qutoutiao are up 5% to $3.38 in afternoon trading. Reference Link
Qutoutiao sinks after short report claims 74% of sales are 'fake' » 10:1412/1012/10/19
Shares of Qutoutiao moved…
Shares of Qutoutiao moved lower after a short report from Wolfpack Research claimed that 74% of the company's sales in 2018 were "fake" and 74% of its reported cash balance were "non-existent." After analyzing more than 50,000 ads on Qutoutiao's platform, Wolfpack says "the results were shocking." More than 25% of Qutoutiao's ad traffic is directed to undisclosed related parties owned by the company's CEO, and 21% originated from the company itself, according to Wolfpack, a firm known for shorting the names it covers. Qutoutiao's top four advertisers represented 69.7% of its ad-traffic in Wolfpack's sample. Number one is an undisclosed related party owned by the company's CEO, number two is a subsidiary, number three recently sued the company for copyright infringement, and number is going through a Chapter 11 bankruptcy, Wolfpack writes in a reported posted on its website. Shares of Qutoutiao, which operates mobile content platforms in China, are down 8%, or 22c, to $2.63 in early trading. "We conclude that QTT exists to enrich its Founder and CEO, Eric Tan, and promote his VC fund's other ventures by creating its own in-house 'advertising agent' in order to direct significant amounts of ad traffic to undisclosed related parties owned by Tan," contends Wolfpack. Reference Link
Qutoutiao drops 8% to $2.61 after Wolfpack calls 74% of sales 'fake' 10:0612/1012/10/19
Wolfpack Research says 74% of Qutoutiao's 2018 sales are 'fake' 10:0512/1012/10/19
Qutoutiao initiated with a Buy at Jefferies » 07:5112/0512/05/19
Jefferies analyst Thomas…
Jefferies analyst Thomas Chong initiated coverage of Qutoutiao with a Buy rating and $3.70 price target.
UBS to hold a conference » 04:5512/0512/05/19
TV, BAK, BAP, BBD, BBVA, BSAC, BSMX, CPAC, CX, EC, KOF, LAIX, PAGS, PLD, QTT, TKC, UGP, VALE, VEON
Global Emerging Markets…
Global Emerging Markets 1:1 Conference will be held in New York on December 3-5.