Doing the Work
Wall Street Won’t

Muddy Waters peels back the layers, often built up by seemingly respected but sycophantic law firms, auditors, and venal managements.

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Latest Reports

MW is Short Prothena Corp PLC (PRTA:US)

Questioning Whether NEOD001 is Efficacious We are short PRTA. The publicly-available data, in our opinion, does not show that NEOD001 is efficacious. Our impression appears to run contrary to that of the sell-side. We believe that perceived positive responses to the drug are quite possibly – if n… more

MW Response to Man Wah (1999:HK)

Muddy Waters, LLC (“Muddy Waters”) announced in a presentation on June 7, 2017 that we are short Man Wah Holdings Ltd. (“MWH”, 1999 HK). MWH promptly halted the stock and on June 9th issued a clarification announcement in response. MWH’s response accurately quotes the presentation slides, although i… more

Asanko: Puppies and Rainbows (AKG:CN)

In this slide deck, Muddy Waters presents six questions for management. These questions relate to insufficient disclosures on share ownership, stockpiles, depletion and technical information. Included are three pictures of the Nkran pit from May 28, 2017, so investors can make their own judgement… more

Muddy Waters is Short Asanko Gold Inc. (AKG:CN)

We are short AKG because we believe it is highly likely to end up a Zero. On the back of flawed geology, AKG made investments in Nkran, its satellite pits, and Esaase that we believe will never be recovered. Nkran is already experiencing a serious collapse of its west wall that we believe is… more

MW is Short Nidec Corp. (6594:JP)

Muddy Waters Capital LLC (“Muddy Waters”) is short Nidec, and we value its shares at JPY 4,764. We view Nidec as a gigantic stock promotion. The company’s management, led by Mr. Shigenobu Nagamori, repeatedly give uber-bullish predictions about Nidec’s business, and then massively misses them. Ni… more

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