DLocal Ltd.

We are more convinced than before that DLO used client funds to pay a special dividend to its pre-IPO shareholders.  Rather than provide a detailed written explanation of the various issues we believe are byproducts of fraud and misusing client funds, DLO is holding a series of calls with brokers an… more

Muddy Waters is short DLocal Ltd. (NASDAQ: DLO).  DLO, a fast-growing payments company based in Uruguay, spun out of a high-risk processing business, has reported stellar growth and profitability that makes it an outlier.  While we have found no pictures of its CEO wearing black turtlenecks, our res… more