written by reader IQ. any thoughts on this news.

April 7, 2020

On Twitter, Muddy Waters says it’s short iQIYI (NASDAQ:IQ), believing that the company ”fraudulently and materially overstates its users, revenues, acquisition consideration, and value of its ’barter’ content.”
Muddy helped Wolfpack Research prepare its own short report, which estimates that IQ inflated its 2019 revenue by 27-44% and its user numbers by 42-60%.
IQ shares are down 4.5% to $16. Baidu (NASDAQ:BIDU), which has a roughly 48% IQ stake, dips 0.2%.

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

You can manage the subscriptions of this post.

Share your thoughts...

2 Comment threads
0 Thread replies
Most reacted comment
Hottest comment thread
2 Comment authors
Travis Johnson, Stock GumshoeGlenn Melcher Recent comment authors

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Glenn Melcher
Glenn Melcher

Any body have an idea what the cash killer is

Travis Johnson, Stock Gumshoe

I sold my shares, noted here.

Add a Topic