China-based Middle East ‘Clubhouse’ Yalla: Unicorn or Just Empty Talk?

Company’s shares have gyrated wildly since its 2020 IPO, soaring on comparisons to popular U.S. voice chat app before plunging last week after short-seller attack •      Yalla lost nearly all gains for 2021 following short seller attack, even after it refuted the allegations and announced a stock repurchase program •      Analysts general upbeat on Dubai-based company as it posted triple-digit revenue and profit growth in its latest quarter       By Alice Leung Chinese-founded Yalla Group Ltd. (NYSE:YALA), often likened to a Middle East version of U.S. voice-centric social networking sensation…

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