Power bank operator Energy Monster lived up to its name on Monday, frightening investors who dumped its shares after seeing the company’s first-quarter financials. Those results showed a sharp acceleration in its pace of revenue declines during the quarter as the company undergoes an important transition to make itself more profitable over the longer term.
https://www.globenewswire.com/news-release/2024/06/03/2892116/0/en/Smart-Share-Global-Limited-Announces-First-Quarter-2024-Results.html
But in the shorter term, at least, that transition is looking a bit painful for Smart Share Global Ltd. (EM.US), the official name of the company whose Energy Monster brand of cabinets filled with rentable smartphone chargers are a fixture in restaurants, shops and other retail venues throughout China.