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Another Short Seller Twitter Hoax Hits a High Flying Stock (SRPT) (ADNC)

January 30, 2013 11:34 AM EST Send to a Friend
Trading fraudsters are at it again Wednesday.

Shares of Sarepta Therapeutics, Inc. (NASDAQ: SRPT) fell out of bed mid-day after a Twitter account posing to be influential short selling firm Citron Research made a negative mention of the stock. The stock fell as much as 10 percent before recovering. Shares last traded up 3.5% to $28.13.

"$SRPT FDA steps in as its 48 weeks results on Eteplirsen results are tainted and have been doctored they believeTrial papers seized by FDA."

Twitter has since suspended this account.

A similar occurrence happened Tuesday when a Twitter account posing as Muddy Waters Research issued a tweet about Audience (NASDAQ: ADNC). The real Muddy Waters called it a "hoax." Shares of Audience plunged 24% intra-day before recovering and closing up 4.5%.

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Twitter, Citron Research, Muddy Waters LLC

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