#SEK #Economy #HeiseSays
A recent Blue Orca Capital report has accused Seek’s Chinese platform Zhaopin of being flooded with fake job adverts and fake resumes. Given that Zaopin represents 48% of the companies consolidated revenue this is a very serious claim. Seek’s shares are in a trading halt until the 2nd of November awaiting an announcement, while Blue Orca Capital is shorting the shares and believe SEK should be valued at $7.20. How will Seek respond and will their shares tank on Monday?
References
‘Rotten’: SEEK hit with fake job post claims
https://au.finance.yahoo.com/news/seek-fake-ads-054610979.html