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JCapital Research has issued a report on Innodata (INOD), alleging that the company is significantly exaggerating its revenues. The report claims that a supposed $100 million agreement with a 'Mag 7' client may be only one-tenth of that size. Following the report, Innodata's stock dropped by 5.7% in pre-market trading. Another analysis suggests that Innodata is not an AI company but operates cubicle farms in low-wage countries for data entry. The Craig-Hallum $23 price target for Innodata came shortly after an S-3 filing for potential dilution.
Looks like more bad news for $INOD, We have no role or participation in this research from Jcap, but it seems pretty damning, esp when you consider our report from Feb. https://t.co/KNRHo5nY48 https://t.co/zckJGTqwDm
Great report. We also looked into $INOD. It's not a AI play; just cubicle farms in low-wage countries, filled with people doing data entry. The Craig-Hallum $23 price target comes just after an S-3 is filed for dilution. They just want the business nothing more. https://t.co/wir5F341Jh
$INOD Watching Innodata; JCapital Research Issues Report On Co Titled "More than a promote: 'Mag 7' agreements likely smaller than claimed, revenue and costs both look highly exaggerated" https://t.co/3WXjJbuNdf