Capybara Research says short Laser Photonics, says stock ‘worth $0’

Capybara Research, in a new report, says it is short Laser Photonics and believes the stock is worth $0, and that the company “will end like all of Nikitin’s frauds, with investors getting wiped out.” The firm says that despite the stock surging from $1 to $16, recent filings and insider activity suggest the company is worth far less than the current market price, and that a recent private placement valued shares at $2.00, 87% lower than the current stock price, “a clear indication that the company knows the current share price is unsustainable.” Capybara further argues that as the company recently restated its financials, admitting that none of the last six reports can be relied upon, is “a major red flag for any public company.”