CAIXIN GLOBAL - June 28 - Shares of dating app operator Momo fell by ~5% in the latest trading session on Wall Street, after a short seller accused the company of selectively disclosing and concealing important news for investors. Spruce Point said Momo "selectively reveals/conceals material disclosures from investors and is diverting attention from new challenges in live video," referring to a livestreaming format that has become highly popular in China. The format's rapid rise has attracted attention from regulators worried about problematic broadcasts that include material like pornography and false claims by sellers of products and services.
by Yang Ge
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Summarized by the IDEA team
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