53½

This is pretty undeniable evidence of fraud. Tingo claimed "significant progress has been made on the construction of the [food processing] facility including the installation of infrastructure, drainage, water supply and the foundations of its numerous buildings." Hindenburg sends a person on the ground to the location a week and a half later to find literally nothing has been done since.

Given that their render of the plant was actually a stock photo of a render of an oil refinery, I find it hard to believe they ever planned to build anything at all.

In another instance, Tingo announced a $150 million agreement with a company, but public filings show that company has been bankrupt and defunct for over a year.

$TIO is down 48% at the news. Frankly, I'm not sure who's buying it for any amount at this point.