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muddy waters research due diligence based equity research on chinese companies home about research subscribe submit an idea contact us 日本語 close menu search for home doing the work wall street won t muddy waters peels back the layers often built up by seemingly respected but sycophantic law firms auditors and venal managements read more latest reports 2026 mw is short ensign nasdaq ensg we conclude that ensg engages in a systematic scheme at an estimated 20 of skilled nursing facilities snfs to rent the licenses of administrators who are not generally present at nor actually managing the facilities ensign enters into consulting agreements with these nominal administrators tha more 2026 mw is short sportradar group ag srad us we are short sportradar group ag at the ice 2026 gaming conference in barcelona our investigators posed as operators of a startup sportsbook we told srad s sales team repeatedly and explicitly that our target markets were vietnam thailand indonesia and china every one of these countries more 2026 how sofi s borrowing money and booking it as a sale enriched management sofi us muddy waters is short sofi sofi s management appears to have booked a 312 million loan from jpmorgan as if it were a sale inflating reported profits and their own bonuses while shareholders bear 15 annual dilution in our first report we highlighted unrecorded borrowings of 312 million sofi h more 2026 sofi eleven questions zero answers sofi us muddy waters is short sofi on march 17 we published a 28 page report concluding that sofi s 2025 adjusted ebitda is inflated by approximately 90 sofi s response was a press release that did not address a single factual claim ceo noto purchased 500 000 of stock roughly 0 86 of the 58 3 millio more 2026 mw is short sofi technologies inc sofi us sofi is a financial engineering treadmill not a healthily growing origination business sofi shareholders are incessantly diluted so management can hit bonus targets through ge capital style loan marks and enron esque off balance sheet structures that disguise borrowings as revenue sofi also ap more 2025 app s persistent lies denying use of persistent ids app us muddy waters is short applovin app app s ceo and cto responded to our initial report dated match 27 2025 with demonstrably false statements in contrast to its ceo and cto s claims app continues to use persistent identifiers that violate users privacy and partner platforms terms of service more 2025 mw is short applovin app us muddy waters is short app web traffic analysis leads us to estimate that 52 of apps e commerce conversions are retargeting and incrementality is only 25 35 code evidences that app is collecting and structuring user ids from its key platform partners which appears to be a major violation of more 2025 ftai could be violating u s sanctions against iran ftai us in apparent violation of u s sanctions an iranian entity seems to have acquired ftai product muddy waters presents the case in a series of slides that include evidence published on linkedin in january and february 2025 by an iranian airline executive of sorena turbine an aircraft mro based in ir more more latest news ehealth inc block on cnbc s squawk box discussing latest short ehealth inc april 8 2020 block on cnbc s squawk box discussing mw s latest short ehealth inc watch the full interview here more burford capital ltd block on bloomberg markets discussing latest short burford capital august 7 2019 block on bloomberg discussing mw s latest short burford capital watch the full interview here more in the news block on cnbc squawk box discussing new kind of activism morality shorts december 4 2018 block on cnbc squawk box discussing a new kind of activism morality shorts watch the full interview here more in the news block on yahoo finance discussing morality shorts december 3 2018 block on yahoo finance video discussing morality shorts watch the full interview here more tweets by muddywatersre subscribe for updates sign up for our mailing list and receive research reports and other related news and updates from muddy waters research subscribe now twitter news reports home about research copyright 2026 muddy waters research all rights reserved