- 21Vianet (NASDAQ:VNET -16.8%) plunges to 52-week lows after a trading halt, in reaction to an inflammatory report from Trinity Research which predicts shares will drop to zero.
- The firm cites "overwhelming evidence that the company is falsifying financials and reported operating metrics," and "field checks of acquired subsidiaries found mostly ghost offices."
- VNET responded minutes ago, saying the allegations "contain numerous errors, unsupported speculation and malicious interpretations of events."
- Shares fell ~25% yesterday, apparently as word of the report leaked out.