Muddy Waters Skewers China MediaExpress Holdings (CCME), See 60%+ Downside

Tyler Durden's picture

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Bill Lumbergh's picture

That explains the 20% drop in a matter of minutes...but good enough for a quick in and out of $100...at least buys me a few bottles of wine before the Bernank necessitates the use of $1,000 bills.

tonyw's picture

When the directors are dishonest how can the company have any value?? They will just loot anything left.

 

kiran1234's picture

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kiran1234's picture

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HelluvaEngineer's picture

Will one of these groups please take a look at BIDU, the worthless censored search engine in China that claims huge growth, quarter after quarter?

Baidu continued its impressive growth trajectory in the fourth quarter, almost doubling revenue year over year to CNY 2.45 billion, thanks to a 24% increase in the number of paying customers and a 56% increase in average spending per account from the year-ago quarter.

...the current market price implies forward price/earnings of 55 times, enterprise value/EBITDA of 41 times, and a free cash flow yield of 1.8%

Oh regional Indian's picture

Feels like a snapshot of the coming trade-wars...but played out on Zero-Hedge.

Sure Chinese companies Pump and Dump.

While US companies inflate and explode.

Same end result.

A 100 of these chinese fake companies will not one Enron make.

ORI

http://aadivaahan.wordpress.com/2011/02/03/my-vision-for-cairo-and-giza-4th-february-2011/

callingnew's picture

this is old news to citron research.  bear meat with a squeeze of lemon.

http://citronresearch.com/

Dingleberry Jones's picture

I still want to know what's up with Muddy Water's CGA call.  They've shirked the shorts and have moved back up. Their execs have also refuted the MW report.  Awaiting an MW response.

 

slaughterer's picture

I have analysts double checking the MW report.  It contains some false information about CCME from old, outdated websites of their clients.  It really looks like the shorts that were getting squeezed paid MF off to publish this.  Disclaimer: no position.