October 16, 2019 / 2:26 PM / a month ago

Muddy Waters takes short position in Corestate Capital, shares fall

BERLIN (Reuters) - Short seller Muddy Waters has acquired a short position in Luxemburg-based in real-estate investment firm Corestate Capital (CCAG.DE), a filing in Germany’s federal gazette showed.

The shares traded as much as 30% lower in the Frankfurt stock exchange following the announcement.

Commenting on the company’s share price, a company spokesman referred to the short position corresponding to 0.5% of Corestate’s share capital.

The filing in Germany’s federal gazette is dated Oct. 15.

U.S.-based Muddy Waters has a reputation for conducting research on companies and taking short positions in them.

Corestate shares traded 22.4% lower at 1405 GMT.

Reporting by Tassilo Hummel and Joern Poltz; editing by David Evans

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