Honestly I was just frustrated with how Carson Block could get away with tanking a stock by releasing a short report with literally no evidence or proof. This has created a "us versus them" climate between the company's management team and the SPAC directors or promoters, he said. He was born in New York City, grew up in New Jersey, got a law degree in Chicago then moved to China, where he worked as a lawyer before starting the country’s first … SPAC But Block said that was just "stock promotion.". The S&P 500 is down 17.7% in that same period. The "us" — XL management — is "basically being willing to say or do anything to do whatever it takes to mislead the board and the people who promoted the SPAC in the first place," he said. Early life and career. Muddy Waters Research has taken a new short position in the vehicle-fleet electrification company XLFleet, according to Carson Block, the firm's chief investment officer and famed short seller. Santa Clara-based eHealth ended Wednesday down 11.7% to $103.20 each. Block grew up in Summit, New Jersey, and holds a … The interview covers a lot of ground, including several of Block’s current and former positions (Luckin, IQiyi, Anta, TAL), short selling strategies, China capital flows, and teambuilding. Sign up for free newsletters and get more CNBC delivered to your inbox. In Europe, where regulations force him to disclose short positions, the mere notice that he was short one stock — Solutions 30 — led it to tumble 20 percent in a day. Block’s investment firm, Muddy Waters, issued a report criticizing NMC’s accounts and disclosing a short position. What Block Said: Block, who doesn't have a short position in Nikola, defended the short report and was "impressed" by Hindenburg's research. "That backlog is greatly misrepresented. We apologize, but this video has failed to load. Muddy Waters Research has taken a new short position in the vehicle-fleet electrification company XLFleet, according to Carson Block, the firm's chief investment officer and famed short seller. as well as other partner offers and accept our, Visit the Business section of Insider for more stories. Carson Block said his Muddy Waters Capital “massively reduced” its short positions in recent days, mostly avoiding the buying frenzy that has burned at … Depuis, Carson Block a fermé ses positions sur Casino. XLFleet is being sold on a "blue-sky" story, with exponential growth in sales estimates, Block said, justified by a $1.4 billion sales estimate in 2024 that he called "a joke.". Carson Block defended the observe of short-selling Wednesday, telling CNBC it gives a vital function in defending buyers by figuring out firms that may very well be deceptive buyers. Carson Block’s Muddy Waters Research announced Wednesday it has taken a short position in eHealth Inc., which owns a digital health insurance exchange.. Block, who disclosed the short on CNBC’s “Squawk Box,” said he does not believe the company is a “fraud,” but it is “in our view a massive stock promotion.” Shorting a stock is a bet that it will go down. Start your day knowing what traders are talking about. Account active Muddy Waters assisted Wolfpack in the research. Marchés financiers Archived from the original on 2019-10-03. A Division of NBCUniversal. Activist short-seller Carson Block, the founder of Muddy Waters Research, says the "markets are broken," and it's causing investors who traditionally … In reality, the fuel savings in terms of gallons are more like 5 to 10%," he added. Carson Block of Muddy Waters notes 'important similarities' between Nano-X and Nikola that have triggered his short position in the medical imaging group. By clicking ‘Sign up’, you agree to receive marketing emails from Insider Signaler un abus. Carson Block's Muddy Waters Research announced Wednesday it has taken a short position in eHealth Inc., a digital health insurance marketplace company. In this episode, Carson dives into the inner workings of the company which reveal many direct lines to people with nefarious pasts and less than stellar character. Activist short-seller Carson Block, the founder of Muddy Waters Research, says the "markets are broken," and it's causing investors who traditionally … With regards to Milton, Block … XLFleet did not immediately respond to a request for comment. Block, the firm's founder, disclosed the position on CNBC's "Squawk Box.". In early March, Scott Flanders, eHealth's CEO, discussed the company's business model on CNBC. Carson Block, l'homme qui navigue en eaux troubles En dix ans, huit entreprises ayant fait l'objet de ses accusations ont été radiées de la cote. Block is known for documenting and alleging fraudulent accounting practices in publicly traded Chinese companies. Muddy Waters argues eHealth, with a stock market value of $3 billion as of Tuesday's close, uses aggressive accounting techniques to obscure what is actually an unprofitable business. Shares of eHealth fell more than 15% in Wednesday's premarket trading after Block's disclosure. A Real Vision interview with famed activist short seller Carson Block who pulls no punches as he takes aim at Canada, Jack Ma and the U.S. pharmaceutical industry. For anyone who follows Muddy Waters Research on Twitter, Block's contempt for SPACs won't have gone unnoticed. What Block Said: Block, who doesn't have a short position in Nikola, defended the short report and was "impressed" by Hindenburg's research. The stock has held up well so far this year, rising 21.7% in 2020 as of Tuesday's close. Shorting a stock is a bet that it will go down. Short seller Carson Block catapulted to fame almost a decade ago for exposing alleged frauds in publicly traded Chinese companies, like the well-known case of Sino-Forest Corp. Block’s route to short selling was a circuitous one. “There are no medals for valor in this business,” Block said by phone from California.
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