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TAL Education’s stock plunges after short-seller Muddy Waters takes aim

“Shares of TAL Education Group TAL, -11.49% sank 10% in midday trade Wednesday, after short seller Muddy Waters Research took aim at the Beijing-based provider of after-school tutoring services, saying that although it was a real business, it had “fake financials.”” writes Reporter Editor for marketwatch.com. Muddy Waters said it was short TAL’s stock, saying that it estimates TAL overstated earnings for fiscal 2016 through fiscal 2018 by over 43%.The stock had soared more than four-fold during that two-year period. Over the past three months, the stock has gained 8.1%, while the S&P 500 SPX, +0.14% has tacked on 0.9%.
 
Source: marketwatch.com



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