Media Appearances
Here’s a selection of Dan’s media appearances and links
Wolfpack Research founder and CIO Dan David argues Biden not lifting tariffs on China won’t help the U.S. economy in the ‘long term.’
Biden not lifting China tariffs ‘won’t help our economy’: Wolfpack Research CIO
Will These Six eVTOL Stocks Ever Take Off?
The Problem with EHang: Where to start? There are loads of problems with EHang, beginning with their use of a variable interest entity (VIE) structure which allows them to trade in the United States… VIEs are opaque legal structures based in places like the Cayman Islands where shareholders don’t have a legal right to the shares they think they’re holding. It’s a risk that’s largely been ignored by the investment community thus far, and China has promised they’ll rectify the problem.
China will leave US with ‘fraudulent companies’ on stock exchange, market expert warns
This started in 2010, and China has effectively slow walk this for the last 12 years with rhetoric like this every once in a while… especially when China’s stock market is tanking like it had been for the last week, especially when they’re having their COVID lockdowns again. But really, what they’re doing is taking their biggest and their best companies, and they’re listing them in Hong Kong as well since they now took over Hong Kong.
US banks beholden to their shareholders: Market expert
Dan David - …what they’re doing is taking their biggest and their best companies, and they’re listing them in Hong Kong as well since they now took over Hong Kong. And it should not have the autonomous status that we have given them in the past, and they’re going to leave us with the companies that are still fraudulent, quite frankly… So I don’t think they comply with audit rules because a lot of them are frauds.
Unphased By DOJ Probe, Hedge Funds Continue To Issue Short Reports
Hedge funds that uncover shortcomings in companies and short stocks provide a valuable service to the markets by ‘outing’ companies who are not running sound businesses. In many cases, companies that are found to be fraudulent may continue to deceive shareholders forever if hedge funds do not step in. Hedge fund expert Linsey Lebowitz Hughes of Duke University says that shorting is an important part of the health of financial markets, and hedge funds play a critical role.
Here’s What to Watch in China, According to an Activist Short Seller
We believe that the most “real” China companies generally lie about 20% to 30% of their revenue, and we’ve seen numerous China companies lying about over 90% of their revenue. For example, we worked with Wolfpack Research on its 2020 short of iQiyi [IQ], which spun out of Baidu [BIDU] and we stated publicly is a fraud. [In August 2020, iQiyi said it had engaged advisers to conduct an internal review of the allegations.]
Evergrande declared in default, going to have 'Bear Stearns moment': Investment researcher
Dan David, founder & CIO at Wolfpack Research, argues the default of Evergrande is also a default of China and the banking system, which ‘forcefully’ pushed the indebted developer to continue building over the last decade.
This week’s podcast features Aaron Task and Stephen Alpher speaking with Mark Minervini, and then with Dan David, the founder of short-focused activist-research outfit, Wolfpack Research. Dan David is perhaps best known as a featured protagonist in 2018’s, The China Hustle. At the root of The China Hustle is that it was legal in China to defraud foreign investors. That remains so today, says David, so bottom line: The financial statements of Chinese companies - from giants Alibaba (BABA) and Baidu (BIDU) all the way down to the smallest of small caps - cannot be trusted.
Alibaba: Too Cheap to Ignore, Despite Risks
Most people don’t know that buying a $BABA ADR does not mean they are buying equity in $BABA. They are actually buying receipts that represent non-voting shares in a Cayman shell that uses contractual agreements to create a structure that resembles equity ownership but in reality means nothing. Alibaba was also the king of thieves in Arabian Nights……
China is going back to a policy of total control: Wolfpack Research Founder
Dan David, Founder & CIO at Wolfpack Research, joins Yahoo Finance Live to discuss the outlook on Chinese stocks amid China’s continued crackdowns. We really are not even in the beginning stages of of the crackdown. China is going back to a policy of total control. And they don’t want people having the kind of addiction to gaming that maybe we have here. If you think about the kind of outlook that China has, a Communist Party would have, that the state is above everything, including religion. And some of these kids are pretty religious about the gaming. And they’re taking that away
Moxian sheds 12% as Wolfpack Research details short position
China’s Moxian (NASDAQ:MOXC), no stranger to volatile stock moves on Nasdaq, is down 11.7% today as Wolfpack Research launches a Twitter thread on why it’s short the Internet content name. It’s a failed business turned stock promotion, Wolfpack says in a new report.
China’s ‘best friends’ are US investment banks, Fortune 500 CEOs who don’t want change, expert says
Dan David - They are buying, taking and stealing from us and the rest of the world. They want all of our personal information and they want us to have none of their personal information. And it’s just always been that hypocrisy, that double standard, and their best friends in the United States are the investment banks, are the Fortune 500 CEOs who do not want anything to change for next quarter.
Why Is Everyone Talking About Skillz Stock?
Wolfpack’s attack on Skillz in early March, along with an opportunistic secondary stock offering at $24 a share later that month, ended its Reddit-fueled rally. But in April, the famed growth investor Cathie Wood bought shares of Skillz for two of her ARK exchange-traded funds (ETFs) and denounced Wolfpack’s allegations as exaggerated or incorrect in an investor newsletter.
The Losers! The business stories behind the worst performing stocks of the second quarter including the worst small cap Tian Ruixiang Holdings (TIRX), the worst mid cap Gaotu Techedu (GOTU) and the worst large cap TAL Education Group (TAL). Wolfpack Research’s Dan David tells us why he thinks laser company Microvision (MVIS) might never get there with its bet on self-driving technology.
Zeroes Tv - China’s Big Tech Crackdown
Dan touches on how this action from China is coinciding with US politicians and regulators expressing their own concern around Chinese listings and China’s ability to access user data from US citizens, while Chinese officials are expressing similar concerns about the national security risks for their citizens’ data. This is a major developing story with potential for escalation over the coming months and years that could cause further tensions between the two and affect share prices in both countries.
Skillz Stock Story Might Have Made Sense to 20-Year-Old Me
The fall came on the heels of reports from short sellers. WolfPack Research called Skillz’ purported partnership with the National Football League (NFL) a pump-and-dump scheme. Eagle Eye Research called Skillz’ financial reporting into question. Those two reports crashed the stock and got the plaintiff’s bar into action. If you bought the stock on its first day of trading in December, however, you’re close to even.
Is Tiger-cub Bill Hwang’s mauling an omen of a financial crisis for Hong Kong?
Archegos was loaded up with investments in Chinese companies that have been accused of fraud. This triggered a memory of watching a documentary called The China Hustle and raised the question: is this the conclusion to its unfinished story, which implied another financial crisis was in the making? And if so, are we about to be hit again?
CBS News - New Jersey deli gets a valuation of more than $100 million
Until last week, Your Hometown Deli in Paulsboro, New Jersey was just an unassuming sandwich shop. Now it’s a Wall Street mystery after the single delicatessen became a publicly traded company valued at $100 million. Brook Silva-Braga reports.
Top of Activist Short Selling Q1 2021
In terms of stock price performance, the activist short selling of Chinese companies has been most successful with stocks trading 31% lower on average. This is especially due to great success of Wolfpack Research and Muddy Waters. Following three reports by these two entitites, three U.S.-listed Chinese companies are down 51%. Various activists also achieved a lot of success in the U.S,, as short campaings delivered an average return of about 21%.
In a Surprise Twist, Most Activist Shorts Are Up This Year
Wolfpack Research’s short on Ehang Holding, a Chinese company developing an autonomous flying air taxi that Wolfpack called “a stock promotion destined to crash and burn,” tops the list. The stock had fallen 71 percent by Thursday’s close since the report was released on Feb 16.
Dan David is an investor, activist short-seller, and whistle-blower. He is the founder of Wolfpack Research, host of the I Hung Up On Warren Buffett Podcast, and is featured in The China Hustle documentary.
These short-sellers are making a killing in defiance of GameStop’s retail army
Wolfpack Research’s bearish report critical of Nasdaq-listed Chinese drone maker Ehang on 16 February saw the shares plummet over 60%.
EHang Accused of Stock Scam in New Report
EHang, a Chinese autonomous aerial vehicle (AAM) company, is an elaborate stock promotion and that the company has lied about products, manufacturing, revenues, partnerships, and regulatory approvals. EHang refutes the evidence presented in the report on the grounds that it contains errors and misrepresents information.
Chinese drone maker’s stock plunges as short-seller takes aim
Drone manufacturer EHang Holdings Ltd’s shares plunged on Tuesday after an investment research firm said it had shorted the stock and questioned the accuracy of what the Chinese company has said about its business. Guangzhou, China-based EHang’s shares closed 62.7% lower at $46.30 on Nasdaq.
How short selling works (and what it does to the economy)
Dan David on activist shorts, The differences in an activist short being public and a hedge fund being private. How when announcing a position the feedback from the public both good and bad. The section starts at 6:54, Dan at 8:00
Huawei ‘huge threat’ to US and NATO allies: Wolfpack Research founder
FBN Mornings with Maria. Wolfpack Research founder Dan David argues Huawei’s claim that the company is not a national security threat is ‘a joke’ and ‘nobody believes it.’
Report: SEC To Begin Limit Individual Investor’s Access To Financial Markets
Dan David, founder of Wolfpack Research, explains why the short of Game Stop represents a bigger picture of failed monetary policy in the U.S., reported War Room Pandemic this morning
The last thing we need is have Congress regulate short selling, says Short seller Dan David
Dan David, short seller and Wolfpack Research founder, discusses the nature of his business. With CNBC’s Brian Sullivan on FAST MONEY
Wolfpack Research’s Dan David on short selling in markets, government regulation and his outlook for the hedge fund industry.
Dan David - founder of Wolfpack Research, discusses short selling in markets, government regulation of markets and his outlook for the hedge fund industry. He speaks on “Bloomberg Markets: China Open.”
Wolfpack Research’s Dan David on what Biden’s presidency means for the market
Dan David, Wolfpack Research Founder, joined Yahoo Finance Live to discuss his outlook for the markets under Biden
NYSE Reverses Course Again, Will Delist Three Chinese Telecom Stocks
The NYSE is trying to judge how the political winds are blowing, and it’s a pretty confusing situation right now, said Dan David, founder of Wolfpack Research, an investment-research firm that specializes in shorting, or betting against, companies that it suspects to be engaged in fraud, including Chinese companies.
Top ethics and compliance failures of 2020
From a massive accounting fraud scandal in Germany to deceitful consumer tactics among China-based companies to unethical practices on the environmental front in the United States—CW’s list of the top ethics and compliance failures of 2020 spans the globe.
House poised to cut rogue Chinese firms off from American investors
The House of Representatives will vote Wednesday on a bill aimed at boosting oversight of companies from China and elsewhere that are listed on U.S. stock exchanges. It’s a good first step,” Wolfpack Research founder Dan David told FOX Business. But it is really only a first step. And in no way is it a complete protection or the kind of protection you would have of a US-based U.S.-listed company.
Dan David is the founder of Wolfpack Research, a short-biased firm that goes to great lengths to meticulously understand the business operations, technical aspects and financials of listed companies.
Rubio Taps Hedge Funds for Input on China De-Listing Bill
Soon after Senator Marco Rubio led the bipartisan roll-out of the Equitable Act in June, short seller Dan David of FG Alpha Management heard from the Florida Republican’s office.The bill calls for delisting foreign companies that don’t comply with accounting oversight rules of U.S. exchanges
Kevin Cirilli delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. Guests: Dan David, Founder at Wolfpack
GSX Techdu Shares Fall Amid SEC Probe
China-based online education company GSX Techedu has confirmed it is the subject of an investigation by the Securities and Exchange Commission following allegations it was inflating sales. GSX reported revenue of about $233 million for the second quarter, a more than four-fold increase year over year. It also said enrollment in its K-12 online course increased more than 300% year over year.
Auditors must “stop pretending” it’s not their job to catch fraud
Auditors have access to all the facilities and we have access to the underlying financial records, statements and records. Short sellers like Muddy Waters and Wolfpack Research don’t have access to any of that and yet, they’re the ones uncovering the fraud.
I don’t see GM walking away’ from its deal with Nikola: Wolfpack Research Founder
Dan David, Wolfpack Research Founder, joins The Final Round to discuss the latest news on Nikola as it faces an investigation from the SEC due to allegations of fraud from Hindenburg Research and what all this could mean for the company that only recently saw an IPO in June.
Top of Activist Short Selling (so far) in Q3
Two best Q3 performers are two short calls from Wolfpack Research. Wolfpack is led by Dan David that you might know from the great documentary about short sellers and US-listed China-headquartered firms, ‘The China Hustle’.
Iqiyi, Baidu drop after SEC investigation announcement
Dan David, Wolfpack Research Founder, on the SEC probe. With CNBC’s Melissa Lee and the Fast Money traders, Pete Najarian, Steve Grasso, Bonawyn Eison and Brian Kelly.
Wall Street Wants More Frauds from China
In April, short-seller Wolfpack Research accused iQiyi of inflating revenue and user numbers by double-digit margins. The fraud, as Wolfpack termed it, dated back before iQiyi’s initial public offering in March 2018.
U.S. Regulator Probes China’s Netflix
Video streaming firm iQIYI revealed in its latest quarterly report that it was being probed by the Securities and Exchange Commission over potentially inflated sales figures from accounting fraud.
WolfPack Research Contrarian Investor Presentation
Chinese Firms Delisting From NYSE, Nasdaq Amid Growing US Pressure
A rising number of Chinese companies are considering delisting from the U.S. stock exchanges as Washington increases its crackdown on foreign companies that fail to comply with U.S. audit standards.
MVIS Stock Price - MicroVision Inc. attracting bargain-seekers, to bounce after roller coaster week
MVIS Stock Price - MicroVision Inc. attracting bargain-seekers, to bounce after roller coaster week
Not So Fun Headline for Qutoutiao Drives Down Stock
Shares of Qutoutiao Inc. (Nasdaq: QTT) plummeted over 20% on Thursday after the company was called out at a consumer rights show for misleading ads claims. The company then took its application off the Apple app store.
Dan David, Lead Protagonist in ‘The China Hustle’ Film, Shares The Biggest Heist You’ve Never Heard Of…
Dan David, the featured protagonist and narrator in the ground-breaking documentary film, The China Hustle, joins the Marketing Geeks, Justin Womack and Andros Sturgeon, for a fascinating sit-down interview about massive levels of fraud and deception that have yet to receive proper mainstream attention.
Opinion: Luckin Coffee shows how risky Chinese IPOs can be, but investors are just not listening
Just last month, history repeated itself when Luckin Coffee blew up publicly, after admitting that a top executive inflated sales figures at the biggest rival to Starbucks in China. Luckin’s inflated numbers were initially exposed in an anonymous short-seller report that was made public in February by Muddy Waters Research — the same short seller that shone a light on some of the problematic Chinese companies nearly 10 years ago, including Sino-Forest.
INSIGHTS | Short seller huffs and puffs, but it doesn’t blow Iqiyi down
In a report published April 7 and tweeted by Muddy Waters, Wolfpack claims that Iqiyi had inflated its 2019 revenue by between approximately RMB 8 billion to RMB 13 billion, or 27% to 44%
How China’s Tech Giants Charged Ahead When Coronavirus Shut Down Cinemas
U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton warned last month that disclosures by emerging market firms, including those from China, carry “substantially greater risk” of being “incomplete or misleading.”
Chinese cloud firm gears up for $3.8 billion US listing despite coronavirus uncertainty
Chinese cloud firm gears up for $3.8 billion US listing despite coronavirus uncertainty
Shorting Chinese Companies is in Vogue
In mid-March, regulators including those in Italy, Spain, France, Belgium, and South Korea unveiled rules to temporarily prohibit short selling. “This could devastate funds that get caught behind a short-selling ban,” writes Dan David, founder of short-selling firm Wolfpack Research, in an email.
Short Seller That Targeted Luckin Coffee Takes Aim at China’s iQIYI
In a report released Tuesday morning, the firm Wolfpack Research claims that iQIYI (ticker: IQ)was committing fraud well before its initial public offering in 2018 and has continued to do so. “Like so many other China-based companies who IPO with inflated numbers, [iQIYI] is unable to legitimately grow their business enough to true up their financial statements,” the firm wrote.
China Streaming Platform iQIYI Accused of Fraud by Activist Investor Wolfpack
Wolfpack says its 37-page report was “based on months of research including polling over 1,500 users in the key cities in China, digging up the Chinese credit reports, which show the real numbers, and conducting interviews with insiders and former insiders.
The Managers of These Companies are Corporate Sociopaths'
The Managers of These Companies are Corporate Sociopaths'
Dan David, Founder at Wolfpack Research, discusses the impact of recent U.S, China tensions on the markets. He speaks with Doug Krizner and Paul Allen on Bloomberg Daybreak Asia.
What the China deal means
What the China deal means — It’s true that this is far from a ground-breaking deal that leaves fundamental structural problems with the U.S-China trade relationship unaddressed
Dan David: Phase one of a trade deal doesn't seem as beneficial to the U.S. as it will be to China
Dan David of Wolfpack Research discusses U.S.-China trade talks, what Alibaba’s successful Hong Kong listing says about Chinese stocks overall, and how the equity market is the only game in town for investors right now.
Tencent-Backed News App Denies Explosive Fraud Allegations From U.S. Due-Diligence Firm
On Tuesday, U.S.-based Wolfpack Research, which was launched earlier this year by activist short-seller Dan David, issued a report claiming that 74% of Qutoutiao’s 2018 revenues were fake and 78% of its current cash balance is nonexistent. The report also likened the news app to spyware with an absurd amount of access to and control over its users’ private data.
Qutoutiao Disputes Short Report by Wolfpack Research
Wolfpack Research LLC, a New York-based activist research firm, released a report on Tuesday alleging that the majority of Qutoutiao’s revenue it reported for 2018 was overstated. Wolfpack also said the mobile content aggregator pays users to click on ads with its current cash burn rate at over $300 million per year. Our analysis and on the ground due diligence indicate that approximately 74% of Qutoutiao’s 2018 revenues are fake and nearly 78% of its current cash balance is non-existent, Wolfpack wrote.
Short-seller Calls Qutoutiao a ‘Low-Tech China Hustle’ but Stock Rebounds
Chinese news aggregator Qutoutiao lashed out at what it called a groundless report by U.S. investigating and due-diligence firm Wolfpack Research that labeled Qutuotiao malware and alleged the company had falsified the vast majority of its 2018 revenues.
David - Phase one of a trade deal doesn’t seem as beneficial to the U.S. as it will be to China
Dan David of Wolfpack Research discusses U.S.-China trade talks, what Alibaba’s successful Hong Kong listing says about Chinese stocks overall, and how the equity market is the only game in town for investors right now."
Huawei should never have been part of the trade deal: Dan David
Wolfpack Research founder Dan David discusses how the Trump administration may ban federal agencies from conducting business with Chinese tech giant Huawei.
Huawei should never have been part of the trade deal: Wolfpack Research founder
Wolfpack Research founder Dan David discusses how the Trump administration may ban federal agencies from conducting business with Chinese tech giant Huawei.
They’d Find Fraud, Fraud, Fraud.
Wolfpack Research’s David traveled repeatedly to Washington over a two-year period at his own expense to try to alert people in Congress to the problem of fraud by Chinese companies. “It was very frustrating,” he says. “Nobody down there had a clue or an inkling as to what was going on.
Dan David Closing Statement - CSIS Huawei Debate - June 28, 2019
Wolfpack Research Founder Dan David’s persuasive and insightful closing statement during the Center for Strategic & International Studies Debate: “Should the United States severely restrict Huawei’s business?” on June 28, 2019 at the CSIS Headquarters in Washington D.C. You can watch a replay of the full debate here: https://www.csis.org/events/debate-should-united-states-severely-restrict-huaweis-business
Opinion: D.C. is finally paying attention to scary Chinese stocks, but Wall Street may pay the consequences
Regulators are finally paying attention to the risky issues associated with Chinese companies publicly listed in the U.S., but the proposed solution could actually be more harmful to American investors.Two bipartisan bills have been introduced in the U.S. Senate and one in the House to give U.S. regulators much-needed power to demand that the accounting practices of Chinese companies be treated the same way as their U.S. counterparts.
Dan David on Wolfpack Research's latest short: GTT
Our Founder, Dan David, explains why we are short GTT Communications (GTT US) on Yahoo Finance with Jen Rogers and Myles Udland on Friday, June 7, 2019.
Dan David Starts Research Firm Backed by Short-Seller Carson Block
David, a short-seller known for exposing fraud, announced Monday he has started Wolfpack Research, an investigative and due diligence firm backed by Carson Block’s Muddy Waters Capital. Wolfpack seeks to expose fraud and “corporate wrongdoing” through its investment research, according to the announcement.
Wolfpack Research Founder Dan David Talks China on Yahoo Finance
Wolfpack Research Founder Dan David Talks China on Yahoo Finance
CNBC: Wolfpack Research launches to expose corporate fraud
Activist short sellers Dan David and Carson Block of Muddy Waters Capital join CNBC’s “Closing Bell” to discuss David’s new venture, Wolfpack Research.
Congressional Candidate Dan David
Congressional candidate Dan David (PA-4) has been advocating for renegotiating our postal agreement with China throughout this campaign. At his town hall meeting in Glenside, he was pleased to note that the U.S. is withdrawing from this outdated, one-sided agreement that costs our Postal Service $170 million a year and costs American businesses outrageous sums to ship to China.
China Hustle Trailer
An unsettling and eye-opening Wall Street horror story about Chinese companies, the American stock market, and the opportunistic greed behind the biggest heist you’ve never heard of
Dali Foods.
Dan David explains why he’s shorting Dali Foods
China Currency Manipulation
Dan David, CIO of FG Alpha Management and Co-Founder of GeoInvesting, spoke with Bernie Lo and Oriel Morrison on CNBC about China currency manipulation, short selling and Hong Kong regulation. He also discusses why he thinks it is a good time to be short markets in China.
DAN DAVID SHORTS DAVE PORTNOY
ValueWalk held its latest virtual contrarian investor conference, organized by ValueWalk, Contrarian Podcast and Breakout Point, today, and Dan David of Wolfpack Research was one of the presenters. He explained why he sees Remark Holdings Inc (NASDAQ:MARK) as a good short.