Latest news with #YMM
Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
Yonder Media Mobile Sues FuboTV, Seeking Tens of Millions in Damages
Lawsuit Accuses FuboTV of Using Disney Merger as 'Pretext' to Abandon Partnership NEW YORK, Aug. 13, 2025 /PRNewswire/ — Yonder Media Mobile Inc. ('YMM') announced today it has filed a lawsuit against FuboTV, Inc. ('FuboTV') (Case No.: 654014/2025 Supreme Court of the State of New York, County of New York). The lawsuit alleges that FuboTV's senior executives engaged in a pattern of false promises and misleading assurances for over six months, fraudulently inducing YMM into a strategic partnership and investment only to unilaterally and abruptly abandon the deal. The complaint asserts that FuboTV's abandonment of the deal came after FuboTV entered into a separate agreement with Disney, and that FuboTV cited the approvals required by that agreement as a pretext for its withdrawal from the YMM partnership. FuboTV's actions have caused YMM significant financial and reputational damage. In reliance on FuboTV's repeated representations that the strategic partnership and a substantial equity investment would be consummated, YMM dedicated millions of dollars in capital and resources to develop a FuboTV-branded mobile application and service and secured critical modifications to its pre-existing agreement with a major wireless carrier. The lawsuit asserts that FuboTV's actions, including its misrepresentation and the subsequent summary withdrawal of a compensation offer to YMM, were carried out with reckless disregard for the harm inflicted upon YMM. As a direct result of FuboTV's conduct, YMM is seeking damages exceeding tens of millions of dollars. 'We are, of course, deeply disappointed by FuboTV's misleading conduct, which caused substantial damage and a major setback for our company,' said Adam Kidron, CEO of YMM. 'This lawsuit is a necessary and resolute action to hold them accountable. Our focus remains squarely on our future, which shines brightly. We are more committed than ever to protecting our company and fulfilling our mission to provide people everywhere the next generation of mobile experiences, while delivering value to our stakeholders.' About Yonder Media Mobile Inc. YMM is a US-based mobile technology company founded in 2018. Our mission is to connect communities across borders through intuitive, intelligent mobile applications that add real value to people's lives, delivering the next generation of mobile experiences to the widest possible audience. Backed by a diverse group of prominent investors, our team of dedicated developers, creators, and entrepreneurs is focused on delivering innovative mobile services that bridge geographical and digital divides for our global customer base spanning over 200 countries. Disclaimer: This press release contains forward-looking statements regarding Yonder Media Mobile Inc.'s business and legal proceedings. The information contained in this press release is based on the allegations contained in the filed complaint. The complaint is not a finding of fact or law, and the claims alleged therein are subject to proof in a court of law. This press release is not intended to provide legal advice, and Yonder Media Mobile Inc. encourages readers to consult with a qualified legal professional for advice on any legal issues.
Yahoo
5 days ago
- Business
- Yahoo
Full Truck Alliance Hikes Service Fees, Warns of Short-Term Pain as JPMorgan Downgrades
Full Truck Alliance Co. Ltd. (NYSE:YMM) is one of the best cheap growth stocks to buy according to analysts. On August 1, 2025, the company announced that it will increase service fee rates on its freight brokerage platform beginning in the third quarter. The move is aimed at reducing reliance on government grants, which the company described as uncertain. In its official press release, Full Truck Alliance stated that this decision is expected to result in a significant drop in transaction volumes, a decline in related revenue, and an increase in cost of revenue, all of which could negatively impact its profitability. The company did not provide specific projections, but said the effects would be noticeable starting in the current quarter ending September 30. Travel mania/ The pricing adjustment marks a strategic shift toward more self-sustaining operations, but it comes with short-term financial tradeoffs. While the company's relative strength rating recently climbed above 80, a common threshold for technically strong stocks, analyst sentiment remains mixed. JPMorgan downgraded the stock from Overweight to Neutral in early August and lowered its price target from $18 to $10, citing valuation concerns. Based in Guiyang, ChinaFull Truck Alliance Co. Ltd. (NYSE: YMM) operates a digital freight platform that connects shippers with truckers, often referred to as the "Uber for freight" in China. The company provides freight matching, digital transaction services, and other logistics solutions to streamline road transportation across the country. While we acknowledge the potential of YMM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Yahoo
25-07-2025
- Business
- Yahoo
Full Truck Alliance (YMM) Released its 2024 ESG Report
Full Truck Alliance Co. Ltd. (NYSE:YMM) is one of the . On July 15, Full Truck Alliance Co. Ltd. (NYSE:YMM) released its 2024 ESG report, highlighting several sustainability measures. The company advanced its Green Freight Operations by using smart freight-matching tech to lower carbon emissions. The rate of inefficiency dropped from 38.97% in 2020 to 34.92% in 2024. As a result, the improvements cut around 32 million tons of CO2 and brought around RMB83 billion in economic value. A view of an open cargo shipping yard, highlighting the companies freight listing services. Moreover, Full Truck Alliance Co. Ltd. (NYSE:YMM) also improved safety and operational standards through new management systems and strict controls. It achieved a 100% complaint resolution rate and 90.35% satisfaction rate after resolution. The company also launched 12 safety courses with 780,000 participants and gave truckers better legal support. Full Truck Alliance Co. Ltd. (NYSE:YMM) operates a digital freight platform in China. The company connects shippers with truckers to facilitate the movement of goods. While we acknowledge the potential of YMM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
Why Full Truck Alliance Co. Ltd. (YMM) Soared On Wednesday
We recently published a list of . In this article, we are going to take a look at where Full Truck Alliance Co. Ltd. (NYSE:YMM) stands against other best-performing stocks. Full Truck Alliance grew its share prices by 1.7 percent on Wednesday to close at $11.98 apiece as easing global trade tensions sparked appetite for shipping companies, supported by its optimistic business outlook for the second quarter of the year. In recent news, Full Truck Alliance Co. Ltd. (NYSE:YMM) increased its net income by 118.1 percent to 1.278 billion yuan from only 586.4 million in the same period last year. Revenues also increased by 19 percent to 2.7 billion yuan from 2.27 billion year-on-year. A view of an open cargo shipping yard, highlighting the companies freight listing services. For the second quarter, Full Truck Alliance Co. Ltd. (NYSE:YMM) expects revenues to settle between 3.06 billion yuan and 3.12 billion yuan, or a year-on-year growth rate of 10.6 to 12.9 percent. Additionally, Full Truck Alliance Co. Ltd. (NYSE:YMM) underscored its efforts in embracing artificial intelligence to boost its operations. 'Through AI-powered innovations and ecosystem collaborations, we will continue to deliver long-term returns for our shareholders,' the company said. Overall, YMM ranks 10th on our list of best-performing stocks. While we acknowledge the potential of YMM, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than YMM and that has 10,000x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
Why Full Truck Alliance Co. Ltd. (YMM) Soared On Wednesday
We recently published a list of . In this article, we are going to take a look at where Full Truck Alliance Co. Ltd. (NYSE:YMM) stands against other best-performing stocks. Full Truck Alliance grew its share prices by 1.7 percent on Wednesday to close at $11.98 apiece as easing global trade tensions sparked appetite for shipping companies, supported by its optimistic business outlook for the second quarter of the year. In recent news, Full Truck Alliance Co. Ltd. (NYSE:YMM) increased its net income by 118.1 percent to 1.278 billion yuan from only 586.4 million in the same period last year. Revenues also increased by 19 percent to 2.7 billion yuan from 2.27 billion year-on-year. A view of an open cargo shipping yard, highlighting the companies freight listing services. For the second quarter, Full Truck Alliance Co. Ltd. (NYSE:YMM) expects revenues to settle between 3.06 billion yuan and 3.12 billion yuan, or a year-on-year growth rate of 10.6 to 12.9 percent. Additionally, Full Truck Alliance Co. Ltd. (NYSE:YMM) underscored its efforts in embracing artificial intelligence to boost its operations. 'Through AI-powered innovations and ecosystem collaborations, we will continue to deliver long-term returns for our shareholders,' the company said. Overall, YMM ranks 10th on our list of best-performing stocks. While we acknowledge the potential of YMM, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than YMM and that has 10,000x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
