2023-12-29
Another year in the activist short-selling community is now in the books, and what a year it has been. The market environment is unchanged. The golden era of fraud seems to continue unabated. In 2023, we saw 129 new major short calls, up from 113 calls in 2022 and down from 135 …
Read More2023-12-29
2023 was a busy year for short activists. We saw plenty of household names release their take on over 120 stocks. However, we also noted many newcomers who were previously rather unknown to the public. This post focuses on their activity and track record. We counted 11 newcomers this year, releasing research …
Read More2023-12-29
We want to highlight Hindenburg Research’s activity this year outside our usual annual activist short-selling review. This is due to the prominence of the activist well outside the usual borders of the short-selling world. While many seasoned short-sellers continued to publish new campaigns, we believe Hindenburg did take a special …
Read More2023-12-21
At the beginning of 2023, some might have thought that the retail hype was going to slow down as GameStop Corp. (GME) and AMC Entertainment Holdings, Inc. both showcased wild and volatile rides, but mainly headed lower. However, as per our analytics, the retail crowd remained resilient and tried to find …
Read More2023-11-03
This week, we have registered one new major short calls. Bleecker Street Research targeted this USD 0.7 billion company, PureCycle Technologies (PCT), due to allegations of failure to launch its commercial operations and issues with its recycling process. The market disregarded the report as shares closed 15% higher. We also discuss a couple of …
Read More2023-10-27
This week, we have registered two new major short calls. Ragnarok seems to be settling in the activist space and continues to target small caps which are trying to use the AI hype to drive their stock price. This time, they targeted a $200m medtech business due to allegations of a dubious business …
Read More2023-09-28
This week, we have registered four new major short calls. GlassHouse hit us with another report featuring accounting allegations. This time it is a construction company with history of troubles with its shareholders and the SEC. Things apparently did not change, and the accounting is still dubious. Sunshine Research, a relative newcomer, wrote about …
Read More2023-09-21
This week, we have registered three new major short calls. Perhaps most importantly we noticed Kerrisdale Capital with their new retail investors short. They targeted Tilray (TLRY) due to allegations of a weak business model. The stock recently rallied, but the activist does not believe the rally has legs. The company is unlikely to …
Read More2023-09-14
This week, we have registered one new major short call. We saw a newcomer release a report on ETSY, an e-commerce platform, apparently in deep trouble with the competition and other key business fundamentals. The management also supposedly tries to spin AI talk, but the result is not visible. Citron targeted the same company …
Read More2023-08-03
This week we have not registered any new major short calls. While there are no new reports, we have seen many updates to ongoing campaigns. We focus on Fuzzy's campaign against an allegedly dubious fitness chain which is borrowing money to buy back its own stock. We also write about the …
Read More2023-07-06
In, for short-sellers, challenging H1-2023 we saw 63 new major short and critical campaigns. This is in-line with 2022. While it seems that there is no lack of targets, the returns have been somewhat mixed as opposed to last year when the late downturn made life easier for shorts. We have seen …
Read More2023-05-26
This week we have registered one new major short call. We saw only Spure Point releasing a new report on Perion Network (PERI) due to allegations of dubious accounting and business model. Most importantly, the report believes the company's accounting might be unreliable and raise questions about the performance of the business. …
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