China Shen Zhou (SHZ) Sees Further Downside On Research Report
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China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ) is having another down day today, following a research note by Absaroka yesterday, and Muddy Waters mentioning that they were short the stock.
Absaroka has a Conviction Sell and price target of $1.25 on the shares, suggesting 76% downside. Shares only fell 5.5% yesterday, but are down 12% today, though volume isn't anything to write home about quite yet. Short interest is about 8.9% of all outstanding common.
Muddy Waters has moved other Chinese stocks before. China MediaExpress
(Nasdaq: CCME) saw their stock tumble over 50% in January following a Muddy Waters mention (along with a few other sources) and Orient Paper (NYSE: ONP) also took a hit last year on allegations that their financial reports weren't truthful. Muddy Waters is probably best known for calling out the fraud at Rino Intl (OTC: RINO).
Absaroka has a Conviction Sell and price target of $1.25 on the shares, suggesting 76% downside. Shares only fell 5.5% yesterday, but are down 12% today, though volume isn't anything to write home about quite yet. Short interest is about 8.9% of all outstanding common.
Muddy Waters has moved other Chinese stocks before. China MediaExpress
(Nasdaq: CCME) saw their stock tumble over 50% in January following a Muddy Waters mention (along with a few other sources) and Orient Paper (NYSE: ONP) also took a hit last year on allegations that their financial reports weren't truthful. Muddy Waters is probably best known for calling out the fraud at Rino Intl (OTC: RINO).
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