- Energous (NASDAQ:WATT) shares drop 6.4% after short-seller Citron Research calls out the company’s “history of deception” on Twitter.
- Full Citron tweet: “Co has a history of deception and the recent FCC info is no different. Tech is not ready for primetime and the loss of Apple (NASDAQ:AAPL) for Dialog, death to the rumor. Roth upgrade was as ridic as their defense of Unipixel until BK. Powercast at CES will expose why WATT to $15.”
- Background: Energous and Powercast both received FCC certification for wire-free charging technology this week. The companies will each present at CES in January.
- Apple is reported designing its own power-management chips for future iPhones, which cut Dialog Semiconductor out of the supply chain, and went with the competing Qi standard for wireless charging. Citron suggests these movements end rumors that Energous could become an Apple supplier.
- Citron also advises not to listen to Roth’s defense of Energous as the firm defended Uni-Pixel ahead of its bankruptcy earlier this year.
- Previously: Energous +63% on FCC certification (Dec. 26)
- Previously: Roth Capital raises its Energous price target; FCC chair tweets confirmation (Dec. 28)
- Previously: Energous competitor receives FCC approval (Dec. 28)
- Now read: Renren will acquire trucking app company
Original article