Joyy Rejects Fraud Claim by Research Firm, Citing Ignorance of China’s Live-stream Industry

Joyy’s US-traded shares on Wednesday plunged more than 26% after Muddy Waters accused the company of being a “multibillion-dollar fraud” (Source: Joyy) 

Chinese social media and entertainment site Joyy Inc. rejected allegations of fraud by Muddy Waters Research, saying the report it published was full of “misinformation, erroneous statements and misleadi…