News

NexTech AR halts stock due to Hindenburg Report

February 17, 2020

NexTech AR Solutions Corp., an augmented reality provider, halted all stock trading for one business day on Feb. 14, according to a press release. The company did this after a report by Hindenburg Research claimed NexTech had several issues, according to a report by The Deep Dive.

Hindenburg claimed NexTech used, "relentless stock promotion, sketchy related party transactions, and a vaporware product," to get ahead. Following this report, NexTech stock dropped from $2.20 to $1.17.

"We are preparing a further response to the short sellers and to all the law firms in the USA that are flooding our company with misleading press releases multiple times per day," Evan Gappelburg, CEO of NexTech, said in the release.

NexTech will reopen stock trading on Feb. 18.