Elf Beauty says short-seller Muddy Waters' allegations are 'without merit'
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Elf Beauty has responded to allegations from short-seller Muddy Waters, stating that claims of overstated revenue and inventory numbers are 'without merit'.
November 21, 2024 | 1:45 pm
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Elf Beauty has denied allegations from Muddy Waters about overstating revenue and inventory, asserting that these claims are 'without merit'.
Elf Beauty's denial of the allegations may stabilize investor sentiment, but the presence of such claims could still cause uncertainty. The company's strong refutation suggests confidence in their financial reporting, which may prevent a negative impact on stock prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100