On Friday, CNBC's "Fast Money" spoke with Wolfpack Research founder Dan David after the SEC confirmed it was investigating iQiyi, a company sometimes known as the Netflix of China, following his firm's allegations that iQiyi was inflating its revenue numbers.
In the interview, David also took aim at a company called Remark Holdings, saying he believed the $119 million technology company was committing fraud and that the "chicken's going to come home to roost" after a 30%-40% loss for the stock.
Remark shares closed nearly 8% lower Wednesday. The $1.20 stock is up more than 133% year to date.
"The filings that we have pulled from China show that the operations that they say they have a [variable interest entity, or VIE] contractual relationship with, which we don't even believe is valid, do not match the numbers that they have here in the United States," David told CNBC's Melissa Lee referring to Remark. "They have $20 million lost more on their books here in the United States than they are showing in their SEC filings and credit reports in China. How do you reconcile that if they also say that they consolidate those financials?"
The short seller took particular issue with the fact that Barstool Sports founder Dave Portnoy, who runs a trading blog called Davey Day Trader Global, advises his millions of followers on investments such as Remark despite being admittedly "financially ignorant."
Portnoy told the New York Post this week that his bet on Remark may have cost him "close to seven figures."
CNBC received a response Wednesday from Remark Holdings CEO and Chairman Kai-Shing Tao, who called the Wolfpack founder's statements "misleading" and his information "outdated."
Here is Tao's rebuttal:
Tao added, "We are proud to be helping our customers safely reopen their businesses and schools as they work to comply with the latest safety standards."