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.

Please do not use personal information (like your email address) in the text of your comments. Links to outside information and information share are welcome, soliciting is forbidden -- Stock Gumshoe cannot serve as an exchange for buying, selling or trading information beyond what you post in your comments for public view.