Muddy Waters remains short Chinook Therapeutics Inc (NASDAQ:KDNY). In addition to distorting clinical trial data, Chinook has manipulated its financials. The misleading – if not improper – accounting, which seems an attempt to make Chinook appear more substantive than it is, primarily relates to t… more
Muddy Waters is short Chinook Therapeutics Inc (NASDAQ:KDNY) because we believe it is highly unlikely that atrasentan, its lead product candidate, will be approved by the FDA. We conclude that atrasentan is inefficacious for chronic kidney disease. We also conclude that atrasentan has been shown to… more
Muddy Waters remains short bonds of Vivion Investments S.à r.l. Vivion’s December 22, 2022 response to our report contained numerous inaccuracies and misleading statements. Research we have conducted subsequent to Vivion’s response yields new evidence that Vivion systematically inflated the values o… more
Muddy Waters manages funds that are short the credit of Vivion Investments S.à.r.l. Vivion’s controlling shareholders, in our view, have used bond sale proceeds to unduly enrich themselves. Through a series of property transactions, Vivion’s controlling shareholders appear to have saddled the compan… more
We are more convinced than before that DLO used client funds to pay a special dividend to its pre-IPO shareholders. Rather than provide a detailed written explanation of the various issues we believe are byproducts of fraud and misusing client funds, DLO is holding a series of calls with brokers an… more
Muddy Waters is short DLocal Ltd. (NASDAQ: DLO). DLO, a fast-growing payments company based in Uruguay, spun out of a high-risk processing business, has reported stellar growth and profitability that makes it an outlier. While we have found no pictures of its CEO wearing black turtlenecks, our res… more
Hannon Armstrong has still failed to publicly acknowledge – or deny – that in 2021, it booked ~$300 million of non-cash income that will never be collected. (This income, which HASI could have chosen to neutralize, largely arises from tax benefits that others claim, and is a quirk of the esoteric p… more
Sunrun (RUN) continues the grand tradition of consultant-advised responses that largely avoid substance, yet span several pages. We herein focus the discussion on what was unsaid, and the little that was said.… more
Block on CNBC’s Squawk Box discussing MW's latest short, eHealth Inc. Watch the full interview here… more
Block on Bloomberg discussing MW's latest short, Burford Capital. Watch the full interview here… more
Block on CNBC Squawk Box discussing a new kind of activism - morality shorts. Watch the full interview here.… more
Block on Yahoo Finance Video discussing morality shorts. Watch the full interview here.… more