“CDXC promotes its single product, a health supplement, with iterative press releases that boost share price long enough for insider sales before the vaunted advantages contained in those press releases quietly disappear,” the report claims. But researchers at J Capital say they were unable to find Tru Niagen in a single GNC store and that the Nestle partnership generated just a few hundred thousand dollars. AFP via Getty ImagesĬhromaDex has previously announced partnerships with big names like GNC and Nestle. Iconiq, an investment company whose clients include Mark Zuckerberg (shown), became ChromaDex’s second-biggest shareholder when it bought into the company in 2017. “Why would you trust them with CDXC?” the report added, referring to ChromaDex’s stock-ticker symbol. Members of ChromaDex’s management have been the target of more than a dozen lawsuits by the Securities and Exchange Commission which have accused them of manipulating the stock prices of micro-cap companies with names like Opko Health, Cocrystal Pharma and Mabvax Therapeutics, according to J Capital’s report. WireCard, meanwhile, filed for insolvency, admitting that more than $2 billion on its balance sheet may have never existed. Last summer, Luckin was delisted from Nasdaq after it admitted its operating chief fabricated sales numbers. J Capital, which has placed a short bet against ChromaDex shares that will pay off if they fall, in 2020 alleged fraud at companies including Luckin Coffee and WireCard. Chinese billionaire Li Ka-shing is another one of the top investers in ChromaDex. “We have come to the conclusion that the company is pure hype, dished up by an Oceans 11 of stock promoters,” J Capital analyst Anne Stevenson-Yang wrote in the report. In report slated to be released Thursday that was exclusively obtained by The Post, the short-selling firm J Capital Research predicted the seemingly “promising” Walmart news will become the latest example of a company that the report claims hypes partnerships and then fails to deliver. Two weeks ago, ChromaDex announced it would sell Tru Niagen at thousands of Walmart locations. Mark Zuckerberg’s wife can’t stand to watch UFC fighters pummel each otherĪ nutritional supplements company backed by an investment firm tied to Mark Zuckerberg claims to sell a revolutionary anti-aging pill - but a short seller claims the company is “pure hype.”ĬhromaDex, a Los Angeles-based marketer that says it’s “dedicated to healthy aging,” sold shares in a 2017 deal that made Iconiq, a firm whose clients include Zuckerberg, its second-largest shareholder with a 1.7-million-share stake that was then valued at $7 million.Īt the time, ChromaDex’s biggest investor was Li Ka-shing, a Chinese billionaire and early Facebook investor who swears by the company’s flagship product, Tru Niagen. Meta yanks internship offers in latest belt-tightening move by Mark Zuckerbergįacebook to purge thousands of workers as part of ‘quiet layoffs’: report Apple co-founder slams Meta for yanking internship offers after Post report
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