MW is Short e.l.f. Beauty, Inc. (ELF US)
Muddy Waters is short e.l.f. Beauty, Inc. (ELF) because we believe it has materially overstated revenue over the past three quarters – possibly by ~$135 million to ~$190 million. We believe that in Q2 FY24, ELF management realized its growth narrative was in trouble as its inventory built. It appear… more