Freedom Holding Corp. (FRHC) shares declined to $114.48 following reports of a systemic $20 million disinformation campaign targeting founder Timur Turlov. Analysts link the "black PR" to competitive friction resulting from the firm's aggressive expansion into banking and telecommunications.
- While the user base doubled to 7.2 million, trailing net margins crashed from 19.8% to 0.2% in Q3 fiscal 2026.
- The reputational pressure compounds growing investor skepticism regarding the long-term profitability of the firm's rapidly scaling digital ecosystem.
- The disinformation campaign is reportedly a strategic response to the company's recent disruption of the financial and tech sectors.