两年前做空瑞幸的幕后推手，如今公开做多：瑞幸将在中国超越星巴克！

华尔街见闻2022-11-08

曾重创瑞幸的始作俑者雪湖资本，如今却摇身一变成了瑞幸的大多头。空头也翻多，瑞幸正在开启“重生剧本”。周一傍晚，雪湖资本创始人马自铭在某金融网站平台上公开表示，瑞幸咖啡的浴火重生是“中国商业史上的奇迹”，并强调了自己的看多立场。他还附上了一份演示文件和一份长达81页的看多报告。马自铭周一在接受媒体采访时表示，自己已经买入了瑞幸的少数股份，并认为该公司的估值将大幅飙升：我从来没有想过这家公司会东山再起...

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Comments

天真虎fromchaos
2022-11-08
天真虎fromchaos
不要臉
秦补拙
2022-11-08
秦补拙
把咖啡做出奶茶的感覺
RichPeter
2022-11-08
RichPeter
雪湖也沒那麼厲害，你看看稻草熊，雪湖當時投了很多，結果現在跌成狗si，雪湖還在1元位置賣了很多，我看雪湖這次虧的老慘了
- iclass:
  今天晚上涨起来
MyKhoo
2022-11-08
MyKhoo
K
king_2020
2022-11-08
king_2020
左右通吃？
李大奔
2022-11-08
李大奔
靠otc回血，然後進大盤割韭菜？什麼貨色的pe

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Waters Research）公开发布了一份匿名做空报告，指控瑞幸咖啡涉嫌财务造假，伪造了高达3亿美元的营收额，门店销量、商品售价、广告费用、其他产品的净收入都被夸大。这份报告并非空穴来风，而是动用了大量人力物力进行调查，论据十分充足。这一丑闻曝光后，瑞幸在4月初发布公告承认了财报造假的事实，并于6月被勒令退市。而无论是媒体报道，还是市场传言，这份匿名报告的来源都直指雪湖资本。这份匿名报告称，做空行动始于瑞幸上市之初。雪湖资本先委托咨询公司寻找专业人士，展开对瑞幸咖啡的商业模式进行讨论，意图寻找其中存在的问题点。在拿到关于瑞幸的疑点信息后，雪湖整理了包括销售数据在内的突破口，并提交了这份做空报告。这在当时令雪湖声名鹊起。但马自铭自己并未就是否参与了这份报告，或者参与了任何关于瑞幸的商业调查发表评论。瑞幸的造假行为导致其投资者损失了数十亿美元，震惊了监管机构，其股价在当时最高暴跌幅度达85%。退市后，瑞幸一直在粉单市场进行交易。不过今年以来，瑞幸股价上涨了超过80%，10月再度站上17美元关口——这也是公司当年IPO的价格。时隔两年，瑞幸股价终于艰难回升，也难怪马自铭盛赞其“浴火重生”了。","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9987682475,"gmtCreate":1667889680197,"gmtModify":1676537980282,"author":{"id":"3576635178550320","authorId":"3576635178550320","name":"天真虎fromchaos","avatar":"https://community-static.tradeup.com/news/de2fa8c98b2002137c23e90bc1d5d4a6","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3576635178550320","authorIdStr":"3576635178550320"},"htmlText":"不要臉","listText":"不要臉","text":"不要臉","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9987682475","repostId":1165522916,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":664159417,"gmtCreate":1667888219644,"gmtModify":1676537980076,"author":{"id":"3476776001552207","authorId":"3476776001552207","name":"秦补拙","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3476776001552207","authorIdStr":"3476776001552207"},"htmlText":"把咖啡做出奶茶的感覺","listText":"把咖啡做出奶茶的感覺","text":"把咖啡做出奶茶的感覺","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/664159417","repostId":1165522916,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":664127184,"gmtCreate":1667886718949,"gmtModify":1676537979934,"author":{"id":"3581754350854122","authorId":"3581754350854122","name":"RichPeter","avatar":"https://static.tigerbbs.com/8c2c98be99389d0e5f949c791d391f0c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581754350854122","authorIdStr":"3581754350854122"},"htmlText":"雪湖也沒那麼厲害，你看看稻草熊，雪湖當時投了很多，結果現在跌成狗si，雪湖還在1元位置賣了很多，我看雪湖這次虧的老慘了","listText":"雪湖也沒那麼厲害，你看看稻草熊，雪湖當時投了很多，結果現在跌成狗si，雪湖還在1元位置賣了很多，我看雪湖這次虧的老慘了","text":"雪湖也沒那麼厲害，你看看稻草熊，雪湖當時投了很多，結果現在跌成狗si，雪湖還在1元位置賣了很多，我看雪湖這次虧的老慘了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/664127184","repostId":1165522916,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":7729553,"gmtCreate":1667898859430,"gmtModify":1667898861654,"authorId":3454759410924762,"author":{"id":3454759410924762,"idStr":"3454759410924762","authorId":3454759410924762,"name":"iclass","avatar":"https://static.tigerbbs.com/292d4e60a5ce2987ce88ee9ecd12a077","vip":1,"crmLevel":9,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":664127184,"type":1,"supId":0,"prevId":0,"content":"今天晚上涨起来","text":"今天晚上涨起来","html":"今天晚上涨起来"}],"langContent":"CN"},{"id":9987692823,"gmtCreate":1667881220562,"gmtModify":1676537979100,"author":{"id":"3567334721242358","authorId":"3567334721242358","name":"MyKhoo","avatar":"https://static.tigerbbs.com/71f130b587a20deffeafc3a3dd2f3d5b","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":2,"crmLevelSwitch":0,"idStr":"3567334721242358","authorIdStr":"3567334721242358"},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9987692823","repostId":1165522916,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":664120882,"gmtCreate":1667880295350,"gmtModify":1676537978983,"author":{"id":"3531738151047302","authorId":"3531738151047302","name":"king_2020","avatar":"https://static.tigerbbs.com/3fdda13721a26a07e4e301aca74b2c41","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3531738151047302","authorIdStr":"3531738151047302"},"htmlText":"左右通吃？","listText":"左右通吃？","text":"左右通吃？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/664120882","repostId":1165522916,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":664120374,"gmtCreate":1667880252700,"gmtModify":1676537978983,"author":{"id":"3574167719869734","authorId":"3574167719869734","name":"李大奔","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"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