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Pelican Way Research Profile picture
Pelican Way Research
@Pelicanwayre
Activist investment firm. Nothing is financial advice, all views are our own, see our disclaimer on our website. Get in touch: info@pelicanway-research.com
Sep 8 • 10 tweets • 4 min read
1/9: We believe $SUPX is a textbook China Hustle: Their stock has been ripping after announcing “new” servers, we found that these were logo-swapped products, we also found multiple undisclosed related-party deals, and a CEO with a history of regulatory trouble. Full report on our website.
Shoutout to @JCap_Research for getting to this before us.Image 2/9: Our research found that SUPX engaged in multiple undisclosed related-party transactions. On August 27, 2024, SUPX claimed that its Australian subsidiary, ASPAC AI, was going to partner with PanaAI to build a $200 million data center. Not mentioned was that Yan Chen was both PanaAI director & ASPAC secretary, and that PanaAI, ASPAC, and Yan Chen all listed the same luxury home as their address.Image
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