Muddy Waters Initiating Coverage on DGW – Strong Sell
Muddy Waters LLC has initiated coverage on Duoyuan Global Water Inc. (DGW) with a Strong Sell rating and an estimated value of less than $1.00. We estimate DGW’s actual revenue is no greater than US$800,000 annually, versus the US$154.4 million it claims. Our estimate is based on DGW’s PRC audit… more