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UPDATE: Negative Article By Citron Research on Sky-Mobi (MOBI)

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Citron Research posted a report on Sky-Mobi Limited (NASDAQ: MOBI) earlier today. In the report, Citron Research states that Sky-Mobi's claims of being the largest app store in China are not true. Citron also notes that MOBI has become "a financial disaster" since IPO" and points out that the company "has manipulated the truth to hide their dying business model."

Citron concludes the report by stating that they believe that Sky-Mobi will eventually trade below whatever cash they have left.

The full report can be found here: http://www.citronresearch.com/index.php/2011/05/03/citron-reports-on-sky-mobi-limited-nasdaqmobi-with-a-price-target-of-3%E2%80%A6-read-to-understand/

 

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