FingerMotion provides mobile data services in China and was listed on NASDAQ in 2017 via a reverse takeover. In October 2023, Capybara Research alleged that FingerMotion had inflated revenue, suffered from material cash burn and its share price was driven by extensive stock promotion. Since the allegations were made, FingerMotion's shares have fallen by 45%, However, there have been no director or auditor resignations and it published its audited FY24 financial statements. Also, while the FY24 audit report noted uncertainty about FingerMotion as a going concern, this was unchanged from FY23. Hence, Capybara Research's allegations are unproven.

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