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Investing.com -- The Bear Cave, a research firm focused on short-selling, has raised cautionary flags about Gorilla Technology Group. The group, self-described as a "global solution provider in Security Intelligence, Network Intelligence, Business Intelligence, and Internet of Things technology," has seen its stock rise approximately 1,200% in the past six months. This surge is largely attributed to retail investor excitement following a series of recent partnerships and deals.
Gorilla Technology, which was incorporated in the Cayman Islands and is headquartered in the U.K., has a significant majority of its workforce in Taiwan. The company also conducts business in various countries, including Egypt, Thailand, and Colombia. Despite the recent enthusiasm from retail investors, The Bear Cave suggests that this excitement may be premature.
Gorilla Technology was founded in 2001 as a video analytics company but has since aggressively pivoted to AI-powered technology under its CEO and Chairman, Mr. Jay Chandan. Chandan led the SPAC that took Gorilla public in July 2022.
Chandan, who spoke at Intel’s 2024 AI summit in Bangkok, appears confident in his ability to grow Gorilla Technology. In a company press release from April 2024, he wrote, "In the face of doubters, critics and the perennial chorus of naysayers, my leadership has piloted Gorilla through uncharted waters, transforming a crescendo that rebukes the cynics. [...] The horizon ahead is brimming with potential, and under my stewardship, Gorilla will continue to conquer the critics, outpace the pessimists and blaze a trail of unprecedented achievements."
Gorilla Technology positions itself at the intersection of smart cities, technology, blockchain, AI, and the Internet of Things. Despite this, the exact details of Gorilla’s business and partnerships remain somewhat unclear. The company’s February 2025 investor presentation gives some insight into the company’s offerings, but specifics are limited.
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