LFIN Crashes After-Hours When CEO Admits “We Don’t Deserve This Market Cap”

Update: Much to his credit, Venkat Meenavalli, the CEO of LongFin ventured onto CNBC’s FastMoney tonight to explain the exponential rise and somewhat shady acquisition strategy of his company.
Amid an increasingly rapid eruption of words – “I’m a shadow-banking guy” – and rising volume, Meenavalli seemed to struggle to convince the Fast Money skeptics that what he did was above-board, initially attempting to blindside Brian Kelly by arrogantly claiming “you don’t understand.” However, once it became clear that Kelly not only ‘understood’ but saw the glaring inconsistencies, the LongFin CEO backed away and admitted “we don’t deserve this market cap.”
The result is evident…

This post was published at Zero Hedge on Dec 18, 2017.