Case Study – A Shell Game of Projections
Case Study – A Shell Game of Projections
The late Maya Angelou had this great saying...
When someone shows you who they are, believe them the first time.
That goes for companies, too, which is why it should been no surprise that the wheels seem to be coming off TuSimple (TSP), which during the “Everything Bubble” of not that long ago had been the belle of the autonomous trucking ball.
To say the company is a mess would be an understatement...
It’s on the verge of being delisted from the Nasdaq after failing to file its first quarter 10-Q, last year’s 10-K and last year’s third quarter 10-Q with the SEC.
As part of what appears to be a last-ditch restructuring, it recently lopped off 30% of its workers, the second round of an equal number of layoffs in December.
And two weeks ago, a full six months after KPMG resigned as its auditor, it hired a replacement... UHY LLC, a U.K.-based international “network” of independent accounting firms, which isn’t known for its roster of public... at least n…