Amprius Technologies shares fell over 5% after Manatee Research’s short‑seller report alleging fraud and disclosure irregularities in the market.
Report claims key Korean partner Eurocell seized, US partner Nanotech Energy abandoned projects, and Chinese supplier Berzelius supplied 36% of 2025 costs.
Alleged $29 million of light‑EV orders are fictitious; bill‑and‑hold accounting inflates revenue, with receivables exceeding Q1 2026 revenue by a large margin.
Insiders sold $79 million of stock Nov 2025‑May 2026; share count rose ~55% via ATM offerings and a May 2026 warrant exchange.