Muddy Waters Short-Sells Inogen, Citing Inflated Market Projections

The short seller that took on St. Jude Medical two years ago on cardiac-device cybersecurity now is targeting Inogen, maker of portable oxygen concentrators. Muddy Waters says the research firm that projected Inogen’s market penetration is way off and the company’s leadership is far too optimistic.

Short-seller Muddy Waters is going after another medical device company. This time the investment firm says the maker of portable oxygen concentrators is vastly overestimating its market size.

Carson Block, research director at Muddy Waters, released a scathing report outlining why the company is shorting Inogen Inc. stocks, stating the device-maker has grossly overestimated its potential market share and growth. Block and his colleagues ripped into WinterGreen Research Inc

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