Full Truck Alliance Co. Ltd (YMM US)

Year: 2023

Digital freight platform Full Truck Alliance listed June 2021 on the NYSE. The company was targeted by J Capital Research in January 2023 and the short seller’s main allegations were that FTA’s gross transaction value has been inflated by round tripping, which have been partly funded by fake or overpriced acquisitions. J Capital also alleged that cash/short-term investments may not exist, that the business will suffer in 2023 as VAT rebates are removed and insiders are selling down as the company may be delisted. There were no director nor auditor resignations after the publication of the short sell report and J Capital's allegations are unproven.

Last updated May 2023.

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