On August 21, shares of the international holding Freedom Holding Corp. set a new record on NASDAQ. According to the stock exchange data, the share price reached $99.50 at its peak.
When trading closed, the security was valued at $90.39. Thus, the price surge was 3.33% ($2.91) compared to the close of the previous session. So far, the price at $99.50 at its peak is the new record for Freedom Holding shares since it went public in 2019.
The holding shares already hit record rates in the middle of August. It happened against the background of the publication of an investigation by Hindenburg Research, which accused Freedom Holding Corp. of evading anti-Russian sanctions and misleading the financial statements.
In an interview with the Kursiv edition, Timur Turlov, founder and CEO of Freedom Holding Corp., denied any wrongdoing and suggested that the key source for the report by Hindenburg Research was the holding’s former employee.
Kursiv has already written about the situation and explained that the report by the organization, which specializes in compromising big companies in favor of short sellers («the bears»), can cause a short squeeze, a situation when many investors bet against a stock of a «victim company» and its share price shoots up instead.
