Muddy Waters' Carson Block Says He's Short Elf Beauty Shares.

Short seller Carson Block announced at the Sohn conference in London that he is shorting the shares of Elf Beauty Inc. due to concerns about the company's revenue. Block suspects that Elf Beauty has overstated revenue and that a buildup in inventory is a result of lackluster sales. Elf Beauty reported $301 million in net sales for the quarter through September, exceeding Wall Street projections, but its stock dropped 16% after Block's announcement. Muddy Waters, Block's firm, has taken at least four new short positions in the past year, with a history of successful bets against companies. [Extracted from the article]