Chinese social media platform Momo listed on the NASDAQ in November 2014. In June 2018, it was attacked by short-seller Spruce Point Capital which alleged that Momo selectively revealed and/or concealed material disclosures from investors. Management was allegedly diverting attention from new challenges in its Live Video service and there was evidence that operations had been fabricated. Although the company denied the allegations, June 2018 represented the high watermark in terms of the company's share price performance and profitability. As such, while the allegations were not proven in terms of prompting any resignations, suspicions remain.  

Last updated May 2022

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