Bolt, the ride-hailing and micromobility company, has reportedly issued a legal threat to Silverbear Capital, a short-selling firm. The nature of the dispute between the two entities remains unclear, but it is believed to be related to Silverbear Capital’s activities regarding Bolt’s stock. It is a global mobility platform offering ride-hailing, micromobility, food delivery, and package delivery services. Founded in 2013, Bolt has expanded rapidly worldwide, known for its user-friendly app, competitive pricing, and focus on providing a reliable and efficient transportation experience.
According to anonymous sources familiar with the matter, Bolt has accused Silverbear Capital of engaging in behavior that could be considered manipulative or harmful to the company. The specific allegations have not been publicly disclosed, but it is speculated that they may involve short-selling, spreading misinformation, or other tactics that could negatively impact Bolt’s reputation or financial performance.
Silverbear Capital is a short-selling firm that specializes in identifying and investing in undervalued or overvalued securities. Short-selling involves selling borrowed securities with the expectation that their price will decline, allowing the seller to buy them back at a lower price and profit from the difference. Short-selling firms like Silverbear Capital play a role in the financial markets by challenging market consensus and potentially uncovering overvalued assets.
Silverbear Capital has been short-selling Bolt’s stock, and might have been profiting from a decline in Bolt’s share price currently. This possibly led to a disagreement between the two companies, especially if Bolt believes that Silverbear Capital’s activities have been detrimental to its business growth.
Silverbear Capital has not yet issued a public statement in response to Bolt’s legal threat. However, given the nature of the allegations, it is likely that the firm will vigorously defend itself against any legal action. The outcome of the dispute between Bolt and Silverbear Capital remains uncertain, but it is expected to be closely watched by investors and industry observers.
