Latest Alleged Chinese Fraud: PUDA Coal (NYSE: PUDA) - $2.66 Price Target, 70% Downside, By Alfred Little

Tyler Durden's picture

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eigenvalue's picture

I also highly suspect another Chinese company called Spreadtrum Communications, Inc (NASDAQ: SPRD) is a fraud. Its stock price and EPS are unbelievably strong. However, I don't have a deep enough pocket to do a thorough investigation.:(

A Man without Qualities's picture

I highly suspect that a company called Bank of America is a fraud, but if we ever got definitive proof, they would simply change the definition of fraud or give exemptions to any company with the word America in it's name...

Fish Gone Bad's picture

Maybe Puda's name should really be Puta.

shanelee's picture

Wow, this was a top quality post. In theory I'd like to write like this too, taking time and real effort to make a good article.

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Great Unwashed's picture

Finding and shorting Chinese frauds is turning into a nice little cottage industry. Soon everybody is going to be looking for their own.

Monday1929's picture

The fraud in China is unforeseeable.

curbyourrisk's picture

The Fraud in China.

thames222's picture

I F'ing hate the Chinese, who couldn't have seen this coming?  Only Durden would have the leak like this though, good job Z-Hedge guys!

Global Hunter's picture

If a letter writer or website publishes a negative report on a company I am director, management or executive of and believe in and the stock gets cut in half I'm laughing my arse off and loading up the truck in my PA, "thank you very much".  So to sue somebody for having an opinion is really all you need to know.

tallen's picture

Another stock I've been looking into is HRBN, valued at $600M, it claims it can double its revenue every year. (It's got a 8PE, what a joke). Numerous dodgy insider actions. Read into the company.

Thanks again zerohedge, bought a load of puts at 7, 1 week expiration. Up double so far :)

Victor Berry's picture

How can fraudulent Chinese companies fool the Wall Street whiz kids for so long?  And does anybody really think accounting fraud is isolated to Chinese companies?

babylon15's picture

Can you explain the mechanism for exactly what happens if you buy a put with a strike of $10.00 and the stock never reopens?

arthur darrell's picture

You can always exercise your PUT and dont need a locate. The fully paid put option is a contract and you will only be subject to buy in when or if the shares reopen. Pink sheets count. So buy puts without the ZH error.

g3h's picture


Have a complete list of the Chinese fraud stocks you have reported?

Can't seem to find them all easily.

buzzsaw99's picture

...that allowed Chairman Zhao to first steal the company, then sell half the company (pocketing the proceeds) and then pledge the other half of the company to a Chinese PE fund while piling on $530.3 million of 14.5% debt...


They learn fast.

buzzsaw99's picture

Replace "Chairman Zhao" with "the Waltons", "the Gates", "the Schmidts", and that is exactly how things work here.

tomster0126's picture

Definitely not playing around with any Chinese stocks again...sheisty, very very sheisty indeed.

jimmight's picture

Definitely not playing around with any Chinese stocks again...sheisty, very very sheisty indeed.

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