Photo: Daniel Goodman / Business Insider
This is important: Shares of SINA.com, the company behind China’s popular Twitter-clone Sina Weibo, are down about 4% today.The reason?
This article in the Wall Street Journal in China mentions Sina in an article about Muddy Waters, the famous short-selling firm that goes after Chinese companies accused of fraud.
The article is in Chinese, but it’s being passed around and people are wondering if Muddy Waters is about to go after SINA next.
If they are, that’s not in the article. All it says is that the CEO of Sina is on the board of FMCN, another company that Muddy Waters is going after. That’s presumably not new news, and it’s a far cry from Muddy SINA itself being a Muddy Waters target.
If you speak Chinese, here’s the relevant paragraph. All it says according to Business Insider intern Andrew Shen (who speaks Chinese) is that the CEO of Sina is on the board of FMCN. That’s it:
Anyway, welcome to the new world of investing.
UPDATE: Turns out the article is a week old article written by Eric Jackson, who says there’s “definitely” nothing in there about Muddy Waters investigating SINA.