Patrick Frater Asia Bureau ChiefFund manager and investment research firm Grizzly Reports has issued a warning about DouYu, a Chinese live streaming company that is listed on New York’s NASDAQ stock exchange.The report alleges that the site has benefited from and encouraged its users to host online lottery operations that are illegal in mainland China.
Chinese regulators are already tackling the problem from multiple angles, which Grizzly says will push the company further into loss.
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