Muddy Waters' Carson Block Bets Against E.L.F. Beauty: Short Seller Says Retailer's Financials Show 'Major Red Flag'

Muddy Waters Research founder Carson Block announced a new short position in E.l.f. Beauty, Inc ELF at the Sohn conference on Wednesday, which sent shares of the cosmetics company tumbling. Here’s a look at why the short seller is betting against E.L.F.What To Know: Short seller Muddy Waters released a report Wednesday alleging that E.L.F. has overstated its revenue over the last three quarters by approximately $135 million to $190 million.“We believe that in Q2 FY24, ELF management realized its growth narr ...