In a recent turn of events, Cambrian AI, a Beijing-based artificial intelligence technology company, witnessed its stock plummet by a staggering 13.48%. The sudden downfall can be attributed to the dissemination of false information, with the company releasing a statement addressing the issue.
According to IT之家, Cambrian AI issued a statement on September 5th, 2024, regarding a fraudulent activity that took place during a brokerage firm’s strategy meeting. The statement revealed that an individual, posing as a Cambrian AI expert, engaged in discussions with institutional investors regarding the company and the industry. Subsequently, the false information spread widely, causing significant negative impact.
The company emphasized that the individual who engaged in the fraudulent activity was a fake expert, and their motives remain unclear. Cambrian AI has retained the right to pursue legal action against the individual. Additionally, the company highlighted that there have been several instances where individuals claiming to be Cambrian AI experts have participated in institutional interviews and exchanges, spreading misinformation and false information about the company.
In light of these developments, Cambrian AI issued a formal statement, emphasizing its strict internal regulations, which explicitly prohibit employees from participating in external interviews and investor exchanges. The company further clarified that any individuals presenting themselves as Cambrian AI experts during investor meetings and conferences are imposters.
Cambrian AI, founded in 2016, specializes in the research and development of artificial intelligence chips. The company was approved for its initial public offering (IPO) on the Shanghai Stock Exchange’s Science and Technology Innovation Board (STAR Market) on June 23, 2020, by the China Securities Regulatory Commission (CSRC).
The stock of Cambrian AI experienced a volatile session on the same day, with the stock opening higher and subsequently falling. In the afternoon, the stock plummeted by more than 10% in just 20 minutes, ultimately closing down by 13.48%. The trading volume exceeded 3.2 billion yuan, and the market value of the company stood at approximately 863.72 billion yuan by the time of the report.
The incident raises concerns about the integrity of the market and the potential risks associated with false information dissemination. As the technology industry continues to evolve, it is crucial for companies to maintain transparency and address such fraudulent activities promptly to protect the interests of investors and stakeholders.
In conclusion, Cambrian AI’s stock plunge can be attributed to the fraudulent activities and dissemination of false information. The company’s swift response and issuance of a formal statement highlight its commitment to addressing such issues. As the industry continues to grow, it is essential for all stakeholders to remain vigilant and take appropriate measures to ensure the integrity of the market.
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