Oct. 3 at 11:50 PM
$WIMI From chat gpt why the stock is not moving despite all the news.
"Revenue dropped 35% YoY, mainly from weaker AR advertising demand. That’s usually a red flag for growth prospects."
"Heavy reliance on investment income (short-term, digital-asset-linked products) to generate profits. Investors may view this as unsustainable or risky."
"Risk disclosure: WiMi admitted it had to invoke a temporary safe harbor under the U.S. Investment Company Act to avoid being classified as an investment company. This could raise regulatory and business-model concerns."
The last part is what makes me wonder why they refused to be classified as an investment company.