FourWorld Capital’s Addis Says Flotek Research Is Incomplete

FourWorld Capital’s John Addis thinks he has found a beat-up old pick-up truck masquerading as a Rolls Royce in Flotek Industries. Wednesday morning just before the open of trading in New York, Addis announced a short into Flotek, a Houston-based global supplier of drilling supplies. Flotek is a primary marketer of a fracking additive Complex nano-Fluid, known as CnF, a high potency fracking additive that Addis says is being misrepresented. Addis: Flotek research based in incomplete data Addis thinks Flotek’s primary revenue driver, CnF, a product that doesn’t work as promised and claims that company studies draw false conclusions due to…