Carson Block is shorting cosmetics company E.L.F. Beauty, saying its a "revenue and investor mystery" [Business Insider]
e.l.f. Beauty, Inc. (ELF)
Last e.l.f. beauty, inc. earnings: 2/5 04:05 pm
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Source: Business Insider
The discount cosmetics company "seems to sell a product it does not have," Block's presentation said. Block referenced import data and conversations with E.L.F.'s shipping partners in his new report. Notorious short-seller Carson Block has a new target: discount cosmetics company E.L.F. Beauty. The California-based beauty company "seems to sell a product it does not have," Block said in his report, presented at the Sohn Conference in London on Wednesday. Using import data and referencing conversations the Muddy Waters founder and his team had with E.L.F.'s global shipping partners, Block believes the company "has materially overstated revenue over the past three quarters — possibly by ~$135 million to ~$190 million," the report states. Muddy Waters is short the stock, though the size of the position is unclear. Block's report said that the firm believes that at the end of last year "ELF management realized its growth narrative was in trouble as its inventory built." "It a
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ELF
News
- ELF Investors Have Opportunity to Join e.l.f. Beauty, Inc. Securities Fraud Investigation with the Schall Law FirmBusiness Wire
- e.l.f Beauty CEO Tarang Amin goes one-on-one with Jim Cramer [CNBC]CNBC
- e.l.f Beauty CEO Tarang Amin: ‘Our facts unravel' the short report against company [CNBC]CNBC
- How Good Leaders Become Great By Never Leading Alone [Forbes]Forbes
- e.l.f. Beauty pushes back on short-seller allegations, shares recover [Yahoo! Finance]Yahoo! Finance
ELF
Earnings
- 11/6/24 - Beat
ELF
Sec Filings
- 11/14/24 - Form 4
- 11/12/24 - Form 144
- 11/12/24 - Form SC
- ELF's page on the SEC website