NMC Health, a United Arab Emirates healthcare company listed in London, crashed as much as 27% on Tuesday.The company which is the largest healthcare business the UAE, lost more than £1.2 billion from its market cap in the space of an hour.
Muddy Waters said that it had"serious doubts about the company's financial statements, including its asset values, cash balance, reported profits, and reported debt levels."View Business Insider's homepage for more stories. NMC Health, a United Arab Emirates-based healthcare company listed in London, crashed as much as 27% on Tuesday morning after Carson Block's Muddy Waters Capital said it was shorting the stock.
The company, the largest healthcare business the UAE, lost more than £1.2 billion from its market cap in the space of an hour. The stock was trading at about 1,960 pence, or 25% lower, at 11:48 a.m. in London In a note, Muddy Waters said that it had"serious doubts about the company's financial statements, including its asset values, cash balance, reported profits, and reported debt levels."
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