Amprius Technologies' stock fell over 5% on May 20, 2026 after Manatee Research accused the firm of fraud.
The report alleges exaggerated orders, disclosure irregularities, and fraudulent partners including Eurocell, Nanotech Energy, and Chinese supplier Berzelius.
Insider sales totalled over $79 million between Nov 2025 and May 2026, while share count rose ~55% due to ATM offerings and a warrant exchange.
Manatee questions $29 million of LEV orders, a $21 million Chinese order for 2,000‑cycle cells, and use of bill‑and‑hold accounting.