Olam shares rebound after defence against Muddy Waters attacks

Shares of Olam International recovered from earlier losses to rise nearly 1% on Wednesday, after it launched a vigorous defence against short-seller Muddy Waters’ attacks on its accounting practices and acquisitions.

By 12:20 p.m., Olam shares were up 0.6% at $1.57 in volatile trading. Earlier in the session, they fell as much as 6% to a three and a half year low.