Capybara Research, which holds a short position in shares of Knightscope and a 50c target, believes the Knightscope’s equity will “crater” as it is “negative on cash and needs to dilute.” The firm, which says Knightscope’s founder and CEO has a track record of “failed” ventures, says its cash burn continues to increase, and the promise of profitability is “nowhere near.” Knightscope funds its operations through “toxic” dilution and crowdfunding, Capybara Research contends.
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