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It\u2019s been a case of you win some, you lose some for New York-based short seller Viceroy Research.<\/p>\n
Of the seven companies it has targeted, two have seen their share prices rise, three have declined, one was suspended, and another was bought seven weeks after the outfit called it a lemon.<\/p>\n
Notably Viceroy\u2019s assertions after Steinhoff International Holdings admitted to accounting irregularities must still be tested, while Capitec Bank Holdings has come out fighting, with the South African lender saying the three-man team got many facts wrong.<\/p>\n
On Monday, Viceroy decided to double-down on its damning report issued against Capitec last week, stating that it believes that the South African Reserve Bank is mistaken in showing continued support to the bank.<\/p>\n
\u201cThe South African Reserve Bank has a responsibility to determine whether the information provided to them \u2013 and on which they base their regulatory decisions is accurate. We do not think it is,\u201d it said.<\/p>\n
\u201cThe SARB has, at this point, a responsibility to perform a full regulatory inspection of Capitec. Viceroy remains firm in its belief that this will result in SARB placing Capitec into curatorship.\u201d<\/p>\n
Capitec was up marginally by 0.27% on Wednesday, trading at R833.92 at 11h00 on Wednesday morning.<\/p>\n