Photo: Muddy Waters
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FMCN is still a Strong Sell.
Muddy Waters made news yesterday after it released a strong sell report for Chinese company Focus Media. Focus Media’s stock fell 39% yesterday on the report. (Could it be an act of revenge from the scorned company?)
Muddy Waters is a short-seller focusing on Chinese companies. It is known for releasing controversial reports about stocks they’re currently shorting. In June, the company released a very negative report on Sino-Forest, which resulted in the company’s stock value nosediving.
For now, it seems the company has control of its website, as it notes on in the message message that “FMCN is still a strong sell.”