XMax Shares Dip After Wolfpack Report

XMax shares dropped up to 3% before trimming losses to 0.1% after Wolfpack Research disclosed a short position.
Wolfpack alleges XMax fabricated $4.6 million and $3.2 million purchase orders from Malaysian stone‑slab suppliers that did not exist or were misrepresented.
The report also questions XMax’s April 22 AI services deal with SUPX’s US subsidiary, claiming a $4.8 million purchase was undisclosed.
The allegations suggest potential dilution of up to a billion dollars and could trigger regulatory scrutiny.