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SINGAPORE - Fast Track Group (NASDAQ:FTRK), a $53 million market cap entertainment services company whose shares have declined 58% in the past week, issued a statement Wednesday denying false claims circulating on social media that the company is undertaking a $37 million registered direct offering. According to InvestingPro analysis, the stock appears undervalued at its current price of $2.50, down from its previous close of $6.31.
The entertainment-focused event management and celebrity agency company specifically addressed misinformation spread through multiple posts on X (formerly Twitter) regarding the alleged offering.
"These statements are false and without merit," the company stated in a press release. "As of June 25, 2025, the Company has not announced, filed for, or entered into any such offering."
Fast Track urged investors and the public to rely solely on official company communications made through appropriate Regulation Fair Disclosure channels, including press releases and U.S. Securities and Exchange Commission filings.
The Singapore-based company, which was founded in 2012 and operates across the Asia Pacific region, stated it "remains committed to transparency" and will continue addressing misinformation that could affect investors and stakeholders.
Fast Track Group provides event management services including media planning, PR management, technical production planning, celebrity sourcing, and event manpower support.
The company’s statement was issued in response to what it described as recent misinformation on social media platforms falsely claiming the company was conducting a registered direct offering.
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