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home / news releases / MF - Missfresh plunges on report company can't pay employees

MF - Missfresh plunges on report company can't pay employees

Missfresh Limited

  • Chinese grocery delivery company Missfresh ( NASDAQ: MF ) plummeted 45% after a report that executive told the staff that the company can't pay salaries for June and July.
  • An executive told employees that investment from Shanxi Donghui wasn't received and most employees will need to stop working, according to an FT report.
  • Earlier this month Tiger Global-backed Missfresh ( MF ) announced Missfresh announced it expected to receive RMB200M equity investment from Shanxi Donghui.
  • Missfresh ( MF ) went public last June and counted Abu Dhabi Capital Group and Tiger Global among its backers. The shares have plunged almost 99% since going public more than a year ago.

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Missfresh plunges on report company can't pay employees
Stock Information
Company Name: Missfresh Limited
Stock Symbol: MF
Market: NASDAQ
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