UPDATE: iDreamSky (DSKY) Sees Mid-Day Weakness; Pump Stopper Issues 'Strong Sell'

(Updated - May 12, 2015 12:14 PM EDT)

iDreamSky (NASDAQ: DSKY) weaker on word it was the target of a negative SeekingAlpha Pro piece. Shares down 7.5%.

UPDATE: The Pump Stopper issued a Strong Sell on the stock on obsolescence, game failures and acccounting issues. The firm highlighted:

• DSKY's American SEC documents show curious differences with local Chinese SAIC filings, CFO associated with bankruptcy and failure, raising serious questions about cash balances, profit margins and accounting integrity.
• DSKY in terminal decline with past hit games rolling off while “real-time” data shows new games are failing while DSKY content partners experience rampant piracy and financial disappointment.
• DSKY is being inevitably disintermediated, Tencent excluding DSKY by buying up quality content while foreign game companies rapidly open local Chinese development offices of their own.
• China Mobile recently halted billing, which could not come at worse time as DSKY has limited time to milk final remaining dollars from declining past hit games.
• Wall Street DSKY revenue estimates are impossible as DSKY business continues to implode, DSKY investors are confused valuing DSKY on future earnings and are missing “melting ice cube” dynamic.

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