Post by
bobbythebaker on Feb 20, 2024 11:09am
Evolv In A World of Hurt
That "Evolv Corrects Misinformation About the Company" article was pretty scary. It sounded like my high school son trying to prove a thesis in a term paper. Not exactly confidence inspiring.
First the FTC steps in, then the SEC, and EVLV is pinning it all on a short selling campaign?
I thought the most embarrasing quote was this one: "Evolv’s sophisticated business-to-business customers, many of whom are themselves security experts and/or engage third-party experts, purchase Evolv Express with the specific goal of helping to detect and deter threats like firearms that could cause a mass-casualty event." They're practically admitting the product doesn't do what they said it would.
Look, I get that there is no perfect solution in weapons detection systems. But it seems that EVLV's Express is a lot less perfect than they purported it to be.
Comment by
Nightstocker on Feb 20, 2024 11:57am
Wowsers....talk about having a bad day. Two NR's from law firms telling investors to hop aboard the lawsuit train, and a third one desperately trying to defend that your product works. Surprising they are only down 15%. Lets hope we can make hay from this opportunity.
Comment by
Davinator on Feb 20, 2024 12:30pm
This is just the start of the class action law firm vultures! There will eventually be near daily NRs from different firms hopping all over this. Sub $2 is in their future for sure! GLTA XTRA longs!
Comment by
Lokruth on Feb 20, 2024 2:09pm
yea,wholly craap who greenlighted that nr/defence letter
Comment by
Baxbax on Feb 20, 2024 3:19pm
Cant believe why ASM agreed to go public with company undergoing all these investigations. Like what a timing. Whatever the results of all this, why take the publicity now. If I was a customer and reading that latest nr, I would call to CEO rightaway asking who the heck greenlighted that. world is a mysterious place.
Comment by
Nightstocker on Feb 20, 2024 3:27pm
SEC, FTC investigations, multiple lawsuits...ASM must stand for "Astoundingly Stupid Mistake"!
Comment by
Davinator on Feb 21, 2024 9:00pm
Day two and the class action pile on is just getting started... https://www.businesswire.com/news/home/20240221777213/en/Glancy-Prongay-Murray-LLP-a-Leading-Securities-Fraud-Law-Firm-Continues-Investigation-of-Evolv-Technologies-Holdings-Inc.-EVLV-on-Behalf-of-Investors The vultures. God luv'em in this case!
Comment by
Yajne on Feb 21, 2024 10:18pm
Although they're not on EVLV's Board, I will be surprised if major investors like Gates and Manning don't demand a full scale shake-up of EVLV leadership. Also, I don't see how there won't be 'blood on the street' before this fiasco ends...unless of course the CEO has a 'golden parachute' package which allows him a soft landing.