Carson Block, the CEO of Muddy Waters Capital, has announced his decision to short shares of Elf Beauty Inc., a cosmetics brand based in Oakland, California.

Block has expressed concerns about the company's revenue, which has led him to take a short position on the stock. This move highlights the ongoing scrutiny in the cosmetics sector, as investors remain cautious about the sustainability of revenue in the face of changing market dynamics.

Block's remarks at the conference emphasize the challenges that Elf Beauty is currently facing as it navigates its financial landscape.