Stocks News
Future fintech stocks drop 17% after SEC indicts CEO
Stocks of Future Fintech Group FTFT,
The decline came after the Securities and Exchange Commission charged Hwang Sanchun with inflating the company’s stock price right before he took office as CEO.
Shares fell 17% to $1.07 in after-hours trading Thursday. The stock is down more than 48% in the last 12 months.
In Thursday’s complaint, the SEC alleged that Huang used manipulative trading techniques in early 2020 to boost the fintech company’s stock price to prevent it from being delisted from the Nasdaq exchange.
