2019-12-30
Activist short sellers were very active around the globe in 2019 and made 177 major short calls. Targeted stocks are down 7.7% on average, which is less than in 2018 (avg. decline 12.7%), but, yet very remarkable, especially, having in mind that S&P 500 Index climbed about 29% this year;* There were big winners. …
Read More2019-11-30
TL; DR: Tilray short tops all short pitches presented at Kase Learning Shorting Conference one year ago. While Tilray is down about 81% since the presentation, four other stocks declined 40% or more. Chris Brown from long-short firm Aristides Capital, argued last year at Kase Learning Shorting Conference that growing marijuana is a commodity business and …
Read More2019-11-19
TL; DR: Two of European 2019 mega-IPOs got in short-selling focus of UK hedge funds recently. One big short popped-up in each of these European unicorns in November. Since initial disclosures both shorts were further increased, while targeted stocks remained broadly unchanged. This year's biggest European IPO (ref. DW), TeamViewer AG, appeared for the first time …
Read More2019-11-14
Summary of talks by presenters at Sohn London 2019 conference (more about Sohn London here). Contact us, if you are our client and would like more details about specific pitches. Session One (12:30-14:00 GMT) B. Baldwin from Trian Fund Management presented long idea on Ferguson plc. Main reasons revolve around attractive North American (NA) business, …
Read More2019-11-05
As of the latest short disclosures, four entities hold a big short in EasyJet (mkt cap about £5.2b) for an aggregated short interest of 5.46%. Holder of the biggest short position, famous quant fund, AQR has been rather steadily selling more shares ever since this position appeared on June 4. During the same period, …
Read More2019-10-19
This week, we recorded four new activist short reports. On average, targeted stocks declined 2.9%. Below you can read what you should not miss this week in the short-selling world. We especially focus on J Capital's thesis on WTC. J Capital sees this ten-billion-dollar software company overstating its profit by more than …
Read More2019-10-16
TL; DR: Corestate Capital Holding shares were down as much as 29% today, following a disclosure of a 0.5% short position by Muddy Waters Capital.* Muddy Waters Capital disclosed a 0.5% short in German real estate investment company, Corestate Capital Holding (market cap about €630m). Disclosed short position is dated 2019-10-15; Corestate Capital Holding's shares …
Read More2019-10-02
Busiest quarter in 2019 for activist short sellers: 49 major new short calls/campaigns in Q3;* Best short calls (>$1b initial mkt cap): QCM, ON.MI -65.3%; ShadowFall, BUR -50.6%; Kerrisdale, CDNA -39.6%; Best short calls (<$1b initial mkt cap): Emerson, 1573:HK -83.5%; White Diamond, SES -63%; Hindenburg, PRED -50.9%; Very active and all targets down: Spruce Point (4 shorts, avg. …
Read More2019-09-28
TL; DR: D1 Capital and Egerton Capital made big profits on Friday by short selling two Chinese firms listed in the US. Related stocks plunged, after media reported that, according to sources, US administration is considering delisting Chinese firms from US markets.* Chinese firms listed on US exchanges were on decline on …
Read More2019-09-25
TL; DR: Egerton Capital profited from yesterday's 20.22% drop of NIO Inc stock by having a 0.52% short position. This is the only disclosed short position in NIO Inc in our records, thus, potentially making Egerton Capital the biggest winner of the plunge.* UK's Egerton Capital is up estimated $3m on …
Read More2019-09-23
TL; DR: We noted first National Bank of Greece short position decreases in 2019 by Oceanwood Capital. Since end of January and prior to these decreases, we recorded sixteen consecutive short position increases.* Last week, Oceanwood Capital decreased their short position in National Bank of Greece twice: on 2019-09-16. from 2.1% to 2.01%, and …
Read More2019-09-21
TL; DR: Gladstone Capital has been reducing almost all of their EU big shorts in the past two weeks. This is in strong contrast to previous 3-4 months, during which we, almost exclusively, noted many increases in Gladstone's EU short positions portfolio* Since September 6, we noted twenty short position reductions and …
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