Capybara Research says Richtech Robotics ‘riddled with fraud, uninvestable’

In a recently published report, Capybara Research says it has “uncovered extensive evidence that Richtech Robotics (RR) is not what it claims to be, and insiders have engaged in fraudulent schemes to enrich themselves at the expense of shareholders.” Furthermore, the short seller argues that “Richtech is riddled with fraud, is uninvestable, and will likely collapse as its schemes are exposed. Richtech’s recent share price surge appears to be fueled by speculation of an enterprise contract with Walmart (WMT). Our investigation shows this narrative is misleading, and at best, Richtech has a limited pilot program involving a single store.” Shares of Richtech have dropped almost 4% to $3.94 in morning trading.