Stock price collapse on fraud disclosure
Company: Hut 8
What the later record shows
Not a promise: a reported event · happened January 18, 2024
The claim reports a stock price decline that had already happened on January 18, 2024. It is not a commitment.
Checked October 10, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Hut 8 stock fell $2.16/share (23.3%) from $9.28 to $7.12 on January 18, 2024 on abnormally high volume following the J Capital Report.
Source (primary)
Thompson v. Leverton — Entry #9: FIRST AMENDED COMPLAINT amending 1 Complaint, against Joseph Flinn, Asher Genoot, Alexia Hefti, Michael Ho, Hut 8 Corp., Jamie Leverton, Stanley O'Neal, Rick… (RECAP, court_filing)
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Quote: “the Company's stock price fell $2.16 per share, or 23.3%, from closing at $9.28 per share on January 17, 2024, to close at $7.12 per share on January 18, 2024, on abnormally high trading volume.”
How we checked this
Checked on October 12, 2026. The cited source supports every part of this claim.
The amended derivative complaint states every element of the claim: the $2.16 (23.3%) drop from $9.28 to $7.12, the date, the abnormally high volume, and that it came on the news of the J Capital Report. These are the plaintiff's allegations in the complaint, not findings by the court.
Confirmed in the source:
- Hut 8 stock fell $2.16 per share, or 23.3%
- The stock closed at $9.28 on January 17, 2024 and at $7.12 on January 18, 2024
- The decline occurred on abnormally high trading volume
- The decline followed J Capital Research's publication of the J Capital Report on January 18, 2024
What we did: Read our cached copy of RECAP (https://storage.courtlistener.com/recap/gov.uscourts.nysd.618845/gov.uscourts.nysd.618845.9.0.pdf) in full (109,679 characters, retrieved September 26, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Thompson v. Leverton — Entry #9: FIRST AMENDED COMPLAINT amending 1 Complaint, against Joseph Flinn, Asher Genoot, Alexia Hefti, Michael Ho, Hut 8 Corp., Jamie Leverton, Stanley O'Neal, Rick…
Quote: “the Company's stock price fell $2.16 per share, or 23.3%, from closing at $9.28 per share on January 17, 2024, to close at $7.12 per share on January 18, 2024, on abnormally high trading volume.”