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Muddy Waters Fails to Shake American Tower With Short Bet

Never before has the unveiling of a Carson Block short sale done less to sway investors.

American Tower Corp. fell 1.1 percent to $73.87 yesterday, the smallest first-day drop ever in a stock after a report from Muddy Waters Research, which built its reputation with bearish calls on Asian companies. New Oriental Education & Technology Group Inc., Focus Media Holding Ltd. and Sino-Forest Corp. lost at least 20 percent after previous Muddy Waters notes.