Carson Block Says Muddy Waters Has ‘Modest Short’ on 500.com
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Carson Block of Muddy Waters LLC said his firm has a “modest short” position on Chinese sports-gambling company 500.com Ltd. based on “fundamental issues, red flags and potential risk of wrongdoing.”
“We’d be happy to see it at 30 to 50 percent of where it is now,” he said in an interview at an event at Baruch College in New York today. While Block did not accuse the company of any specific wrongdoing, he said the share price doesn’t reflect the potential risks and he may change his position if the company discloses more information.