Activist Short Selling in W17

Activist Short Selling in W17
  • This week we have registered two new major short campaigns.
  • Fuzzy Panda returned with another hard-hitting research full of alleged serious red flags. Both the company and the stock did not react so far. 
  • GSX filed its 20-F, which left the short-selling community guessing what is next. They also ruminated about who could actually bring the supposedly much-needed accountability for the markets. 
  • Lastly, we are tracking the most recent stock price gyrations at two alleged stock promotion scams.

Bits and Pieces

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Big Movers

This week’s we saw several stocks that moved in the right direction for the short-sellers. The biggest mover was American Battery Metals (ABML), a mining company initially targeted by Spruce Point back in March of this year. The stock is down about 15% for the week and over 30% since the report. 

Spruce mainly targeted the company due to allegations of stock promotion not based on reality.

Most importantly, the report believes the company has touted an opportunity to enter the recycling of EV batteries. They talked about generating significant amounts of revenue soon and did not forget to mention their plan to build a recycling facility near Tesla Gigafactory. Apparently, all this is unlikely to ever come to fruition. The company also allegedly exaggerated the permit they supposedly have. 

ABML seemed to have sold off this week due to the significant run-up that happened last week (likely due to new institutional funding and potential NASDAQ uplisting). It might be that investors were taking some of the profits as there was no single major news tied to the fundamentals. 

New from Fuzzy Panda

This week we also saw the short-seller behind the successful Workhorse campaign target a $300m company focused on accident prevention tech due to allegations of serious red flags connected to management and corporate governance. 

Most importantly, the report believes the company's key insiders are connected to money launderers, penny stock promoters and other individuals who had issues with the law. According to the short seller, the company is also full of related parties through family connections. 

Moreover, the short-seller alleges... 

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* Note: Presented data and analytics is as of available on 2021-04-30 UTC 12:00.

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