Carson Block Cautions Investors About China-Based Alibaba (BABA) - DealBook
Get Alerts BABA Hot Sheet
Join SI Premium – FREE
Short seller Carson Block of Muddy Waters said he is wary of upcoming IPO Alibaba (NYSE: BABA) and investors should be too, according to reports in the New York Times' Deal Book.
“If Alibaba wanted to defraud investors, it absolutely could,” Mr. Block told an audience of accounting students and aspiring investors at Baruch College.
"China is to stock fraud as Silicon Valley is to technology," he added. While Block said this fact should weigh on Alibaba's valuation, he admits in this market it probably won't matter.
Alibaba is expected to debut on the NYSE on Friday, September 19th and is expected to be one of the biggest IPOs ever.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Tungray Technologies (TRSG) Closes $5M IPO
- AGBA Group Holding (AGBA) selling off into close, down over 17%
Create E-mail Alert Related Categories
IPOs, Insiders' Blog, Short Sales, Trader TalkRelated Entities
Muddy Waters LLC, IPOSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!