Muddy Waters CEO Carson Block Says He's Shorting Elf Beauty

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Muddy Waters' Carson Block says he's shorting Elf Beauty Inc. as he thinks the cosmetics brand has overstated revenue in recent quarters and that a build up in the beauty company’s inventory was due to lackluster sales. Elf Beauty's shares fell 16% after the announcement. Block has a history of successful short selling, with many of his targets experiencing significant declines in value.
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