After Muddy Waters Research released a short report today alleging that FTAI Aviation (FTAI) has been deceptive about its accounting practices, Citi analyst Stephen Trent notes that this has led to “a knee-jerk share price response” in shares on Wednesday afternoon. However, looking through Muddy Waters’ report, “some of the key arguments seem a little hard to understand,” says the analyst, who has a Buy rating on FTAI, which is down about 27% to $112.31 in late day trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FTAI:
- Muddy Waters announces FTAI Aviation short position
- FTAI Aviation drops 6% to $144.25 after Muddy Waters short report
- Muddy Waters goes short FTAI, says financials ‘highly misleading’
- FTAI extends selloff, shares down 8% to $140.98 after short report
- Fortress Transportation put volume heavy and directionally bearish