Activist Short Reports in W15

Activist Short Reports in W15

  • This week we have registered four new activist short campaigns. Targeted shares are on average trading 4% higher vs prior to the reports, with only eHealth shares being somewhat lower than prior to Muddy Waters' report.  
  • We highlight Muddy’s and Wolfpack Research's collaborative effort on IQ which was dubbed the Netflix of China. According to the activists, IQ should allegedly end in a similar way as Luckin Coffee. We also look at the interesting price reaction of TAL Education when its management admitted to wrongdoings in the company.
  • Finally, we share an update on, yet another US-listed Chinese stock filled with classic China Hustle allegations, GDS. 

New Activist Short Reports

Grizzly Research : Innovative Industrial Properties (IIPR) 

  • Grizzly Research targeted this $1.2bn REIT focused on medical cannabis due to allegations of dubious asset transactions and the nature of the business model which is supposedly akin to a pyramid scheme. 
  • Primarly, the report identifies many transactions where IIPR should have valued the asset at a...

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    * Note: Presented data and analytics is as of available on 2020-04-11, UTC 12:00.

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