Samsonite has met its kryptonite. The suitcase maker’s Hong Kong-listed shares have plunged 21% since short seller Blue Orca Capital published a takedown on Thursday. Samsonite isn’t down for the count—but it does have some explaining to do.
Blue Orca’s report isn’t as damning as some that founder Soren Aandahl produced when he co-led Glaucus Research. Glaucus specialized in accusing little-known Chinese companies of fraud: Last year it called Hong Kong-listed developer Fullshare “one of the largest stock-manipulation schemes...