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Currently a total of 275 research reports from 14 investment research firms has been aggregated, with new reports being added and updated constantly
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Grizzly Research LLC
Initial Report Date(2020/02/13)Share Price:59.070 Delisted
Initial Report Date(2020/02/13)Share Price:59.070 Delisted
We believe that 58.com (WUBA) is a House of Cards with Little Economic Substance
Details Link > • Our extensive due diligence, accounting analysis, and review of Chinese SAIC filings
suggests to us that WUBA is an accounting house of cards with little economic
substance.
• We believe that WUBA has failed to disclose that its biggest acquisition Ganji,
acquired for $2.8bn, has seen its revenue plummet by over 95% since the
acquisition by WUBA.
• Our fundamental analysis of WUBA shows that the company’s core business is
facing numerous headwinds, including an unfavorable environment for housing and
job market. These issues are only emphasized by the recent health crisis in China.
• While WUBA raises money from US shareholders on the back of what we believe to
be fraudulent financials, insiders at the company are getting rich.
By wantattse
Subsequent Report (2020/04/29)Share Price:51.800 Delisted
Is 58.com Inc. (NYSE:WUBA) Go-Private Ofer Credible?
Details Link > • New reports from China suggest that WUBA is
going to decrease its headcount by at least 20%; This
supports our belief that the company faces strong
economic headwinds as it is reliant on an active real
estate and job market in China.
• WUBA failed to respond to the allegations we
raised in our report, but recent management changes seem to imply that WUBA is trying to cover its
tracks.
• We noticed that another long-term director of
WUBA recently resigned from his position.
• WUBA is unusually late in the fling of its 20F
statement. We belief the impact from the quarantine
might be devastating to WUBA’s business.
By wantattse
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