Quick Take – Chardan Capital vs. Muddy Waters (SPRD, LIWA)

Today saw the release of a short report from Muddy Waters on Chinese semiconductor company Spreadtrum (SPRD). Read the letter here.

And in the tradition of potentially career ending responses like that of LFT apologist Henry AiCCME booster Ping Luo, and Tree-X‘s one-time cheerleader Paul Quinn, an analyst from bucket shop Chardan Capital, Jay Srivatsa, told Bloomberg news there is “little to no merit” to the Muddy Waters report. Chardan has been responsible for such lovely Chinese companies as halted A-Power (APWR), Origin Agritech (SEED), home of CFO Irving Kau, the man who wouldn’t know a reverse-merger if he were working for one, and many more. Read about Chardan here.

Jay has a buy rating and a $31.00 price target on SPRD shares, and he is also a fan of reverse merger wonder Lihua International (LIWA) fka Plastron Acquisition I. Whom to believe, a sell-side analyst working for Chardan, a company responsible for foisting a bevy of bad Chinese merchandise onto the American markets, or Muddy Waters. Good luck Jay, you’re going to need it.

The content contained in this blog represents only the opinions of the author. The author may hold either long or short positions in securities of various companies discussed in the blog. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. This blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.
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