Wolfpack Research targeted Datavault AI, releasing a detailed report that alleged questionable business practices, concerning affiliations, and potential stock-promotion schemes.Nathaniel T. Bradley, CEO of Datavault, said Wolfpack’s report is self-serving and the company announced it will initiate legal action.Wolfpack Research targeted Datavault AI, releasing a detailed report that alleged questionable business practices, concerning affiliations, and potential stock-promotion schemes.Datavault reaffirmed its intellectual property, citing more than 70 global and U.S. patents covering AI-driven data valuation.
Datavault AI Inc. (DVLT) stock surged over 20% in Monday’s premarket on continued strength from its sharp rebuttal to Wolfpack Research on Friday, accusing the firm of publishing a malicious report.
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Nathaniel T. Bradley, CEO of Datavault, stated that the report is self-serving and that the company will initiate legal action.
What Happened?
WolfpackResearch on Friday took aim at Datavault AI, releasing a detailed short report that alleges questionable business practices, concerning affiliations, and possible stock promotion schemes surrounding the data tokenization company.
The firm cited the involvement of convicted felon Edward Withrow III and other alleged red flags tied to the company’s operations. Wolfpack described Datavault’s blockchain-based data-exchange platform as lacking meaningful activity. The firm claimed listings for non-fungible tokens (NFTs) included items like celebrity photographs and other trivial assets, with negligible trading volume.
The report also took aim at Datavault’s $150 million investment announcement from Scilex Holding Co. (SCLX), asserting that the entity expected to provide funds, Biconomy PTE LTD, may not exist.
Datavault’s Response
Datavault claimed that Wolfpack used its publication to spread false and defamatory statements intended to harm the company’s reputation and increase short-seller returns.
“It’s obvious that these actors are financially benefitting from spreading false information.”
-Nathaniel Bradley, CEO, Datavault AI
“We intend to file suit to hold Wolfpack Research accountable for its malicious conduct and to protect the rights of our shareholders.”
In its statement, Datavault reaffirmed its intellectual property, citing more than 70 global and U.S. patents that cover AI-driven data valuation, inaudible audio signaling, blockchain tokenization, and enterprise monetization systems.
What Is Retail Thinking?
On Stocktwits, retail sentiment around Datavault AI stock remained in ‘bullish’ territory amid ‘high’ message volume levels.
Datavault stock has gained over 11% in the last 12 months.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
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