Solutions 30 : Muddy Waters

(Bloomberg) -- brief seller Carson block scored a fresh win this la semaine when a plunge in shares de Solutions 30 confiance en soi provided a avantage outcome pour the negative pari placed passant par his certain Muddy Waters capitale LLC.

Vous lisez ce: Solutions 30 : muddy waters

(Bloomberg) -- quick seller Carson bloquer scored a fresh success this la semaine when a plunge in shares ns Solutions 30 se faire provided a avantage outcome à la the negative pari placed passant par his certain Muddy Waters capitale LLC.

The win for block is thé latest in a series ns high-profile successes stretching earlier over a decade, the has likewise included thé likes ns Chinese timber société Sino-Forest Corp., milk producer China Huishan Dairy en portant Co. And Middle east hospital operator NMC health and wellness Plc.

Muddy Waters discover a short emplacement in solution 30 in pouvez 2019 et was vindicated conditions météorologiques Monday after the European technology-services société said its auditor can not sign éteindre on its 2020 accounts, sending out its shares plunging 71%. Auto subsequent closing du the position point the end of a thing in which bloquer supported allegations du wrongdoing, repetitively denied by Solutions 30, made in an anonymous décalage in December.

A spokeswoman pour Solutions 30 declined to comment on thé views ns Muddy Waters, when reiterating that an independent auditor said last month thé allegations to be unfounded.


Recent bets by block have focused on U.S. Partager amid a flurry du special purpose procurer companies (SPACs) in the market, contrasted with 2019 when his targets to be scattered an ext broadly across thé globe. Marqué he’s looking somewhere else too.

“Europe is what that nous are always really interested in, since we’ve longue viewed it as a hotbed de dysfunction,” bloquer said par phone. “The U.S. Right currently is our main focus. With tous the SPACs that have gone public and de-SPACed, there’s a beaucoup here calmer to do.”

Here’s a round-up du Muddy Waters’ quick calls since auto start du 2020, according à reports published on the brief seller’s website. Block declined to comment? ou quoi on whether hey still stop short position in the stocks below:

Shares du internet-based insurer Lemonade Inc. Ont risen about 50% since Muddy Waters released a agissant this month, though they are calmer down 51% from their enregistrer high du Jan. 11. The camp was the meilleur performing U.S. Listing ns 2020.

Muddy Waters published its report two job after Lemonade’s first-quarter earnings, questioning thé company’s cacher of customers’ personal information. In response, Lemonade stated links to insurance price quotes accessed passant par Muddy Waters were shared de users themselves, not a vulnerability, and that its quotes are designed venir be shareable v family and friends.

XL Fleet Corp., a maker du systems to reduce fuel consumption, has tumbled 57% due to the fact that Muddy Waters issued its report, having actually gone public through a merger v a blank-check société in December that valued cette at about $1 billion.

The quick seller raised question about XL’s sales et prospects as a joueur in auto vehicle electrification sector, and cited a previous equity raise valuation of seulement $73 million, calling ce a “far cry” indigenous its SPAC valuation.

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Boston-based XL, whose customers include auto Coca-Cola Co. And Verizon communications Inc., said this week it had no comment? ou quoi beyond an initial response that the Muddy Waters report contains “numerous factual inaccuracies, misleading statements, and flawed conclusions.”

Joyy Inc., a Chinese live-streaming société that listed conditions météorologiques Nasdaq in November 2012, has actually fallen 23% because Muddy Waters said it was short thé stock.

The agissant was released days after Joyy agreed to sell that is YY Live entreprises to Baidu Inc. For $3.6 billion, a transaction that was overshadowed once Muddy Waters dubbed YY a “fraud tech company.” Joyy claimed in February the the badiner is “substantially completed,” and a spokesman advert back to that statement as soon as asked parce que le further comment? ou quoi this week.

Joyy has actually said Muddy Waters doesn’t understand the way streaming service work in China, et that auto short seller’s reporter was replete with errors. The Guangzhou-based société in February announced the departure du Chief financial Officer bing Jin à pursue a new travail opportunity.

Shares du MultiPlan Corp., which help insurance carriers find cost savings in health-care claims, space down 3% due to the fact that Muddy Waters named thé stock oui a new short. Block’s firm claimed in November that MultiPlan could lose its best client, UnitedHealthcare. In response, MultiPlan Chief executive, management Officer marque Tabak said on a November earnings appel that auto claim was “absolutely false.”

MultiPlan, which an unified with michael Klein’s SPAC Churchill capitale Corp. III, claimed at the time it “categorically” rejects the assumptions in Muddy Waters’ “self-serving” report. The company declined to comment? ou quoi this week.

Nano-X Imaging Ltd. Shares oui fallen 13% due to the fact that Muddy Waters authorize a report nous the startup founded par Israeli investor Ran Poliakine. Listed on Nasdaq in August, the company’s machine uses semiconductors instead du metal filaments à generate X-rays.

Muddy Waters in September declared Nano-X has actually “no genuine product venir sell divers than the stock,” following nous the heels de a negative appel by un autre short seller, Citron Research. In année emailed response this week, the company said ce “certainly will certainly not let thé short report with false allegations pavillons in our way.”

GSX Techedu Inc. Is under 48% since Muddy Waters exit a report nous the provider of année online after-school tutoring services in China.

U.S.-listed Chinese education stocks oui been hit much more broadly of late after chairman Xi importance highlighted auto need parce que le tougher regulations nous after-school education and tutoring institutions. GSX was part de the stock selloff the followed thé collapse of Archegos capitale Management in March, et also tumbled this la semaine after reporting first-quarter earnings.

In peut être last year, Muddy Waters wondered about GSX’s user numbers. Auto Beijing-based company said the reporter contained confusing les données sources and reflected a lack ns understanding ns the that company business, et that cette has expose financial les données “accurately” et “completely.”

The company’s policy is venir not comment? ou quoi on thé share price or trading task in auto market, it said when contacted par Bloomberg this week.

EHealth Inc. Shares oui plunged 44% due to the fact that Muddy Waters published a report on the company, i beg your pardon provides année online compare tool pour health insurance and Medicare plans. In April 2020, the short seller questioned the Mountain View, California-based company’s accounting.

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EHealth claimed Monday the Chief financial Officer Derek Yung will certainly resign, effective june 11. It didn’t respond venir requests for comment? ou quoi this week.