Short seller accuses Pinduoduo of overstating sales

Citing discrepancies, Blue Orca claims Tencent-backed Pinduoduo reported inflated sales and GMV numbers. Judging by its response so far, though, the market seems unconvinced.

Pinduoduo overstated its sales in filings to the US regulator, according to activist investment fund Blue Orca Capital, but the market so far appears unconvinced by the short seller's claims as it buckles in for a formal response from the Chinese e-commerce site operator.

Pinduoduo has told FinanceAsia via email that Blue Orca's report is based on inaccurate suppositions and that it will address the issue in its quarterly results statement on November 20.

In a report on Wednesday, Blue Orca said Nasdaq-listed Pinduoduo had overstated its gross merchandise volume GMV and also understated...

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