Activist Inv Manager founded by Ben Axler, Specializing in Forensic Short-Selling. Invest @ Your Own Risk, click on the link below to read our disclaimer
Our interview today on $WSP.TO with
@BNNBloomberg
- looking fwd to management's response, or will it be dead silence like the rest our Montreal
#Canada
targets $NVEI.TO, $LSPD.TO, $SAP.TO ?
Tired already of reading about the
#FTXbankruptcy
scandal? Want to nibble on something new? Tomorrow Nov 29th, we'll release a unique forensic investigative report on a company that has faced past allegations of connections to mobsters and criminals
Let's kick off 2023 on the right foot (or left). Miss out on our short calls from the past few years and think everything is washed out with nothing juicy left to short? Think again. Tomorrow Jan 10th we'll profile a new and unique idea at
We've waited patiently, followed this company for years, but the time is now to expose it. Tomorrow - at - we'll release our most in-depth investigative forensic research on one of the U.S. stock market's largest companies.
The
#FED
wants the tide to roll out w/ higher rates for longer; let's see who is swimming naked. Be short over-levered, declining and capital-dependent companies in this environment. Unique report tomorrow March 8th: FOIAs, interviews, forensics all at
Excited to release a unique new forensic short-selling report tomorrow October 12th - live on - help us spread the word with a retweet. Thanks again for following
An urgent call to arms to preserve the integrity of our capital markets. Tomorrow we will explore the worst investment we've ever seen. Upon seeing an internet reference to the CEO and
#organized
#crime
we investigated. We'll share our findings+ let the world decide.
#WallStreet
Happy new year and best wishes for everyone's safety and sanity in these crazy times. We're issuing a unique and highly non-consensus forensic short report tomorrow, Wed Sept 28th on our website - help us spread the word!
Tomorrow we will release the contents of a unique new short idea, one of our largest and most deeply investigated ideas ever. Photographs of empty office locations, never before seen foreign filings; should change the narrative for a company complacent investors love
Very pleased to be named a top activist short seller for 2018 by
@ActivistInsight
, in the company of respected peers such as
@CitronResearch
. Download the full report at
On the nearly 10yr anniversary since Bernie Madoff's Ponzi scheme, we are pleased to issue a "Grand Finale" short report tomorrow; we've spent years following this multibillion $ company, and now is the time to stop this financial scheme from harming more investors
BREAKING: Download Spruce Pointβs full investigative report at to learn why we believe investors are better off selling $ABML & $LODE. These two companies operate in the electric vehicle battery recycling industryβ»οΈ & are linked by curious individualsβ οΈ
In my 20yr career I had a front row seat watching
#enron
and
#lehmanbrothers
crumble. I've seen some really bad investments pedalled with fleeting
#hope
by
#WallStreeet
, but $GFL and $GFLU is the worst. Issuing a "Strong Sell" opinion with 100% downside risk
Bringing you the worst that Wall St has to offer, we are pleased to profile a company tomorrow in a new Strong Sell report that is run by a CEO who has obscured his connection to a notorious Ponzi Scheme and a bonafide accounting fraud that collapsed in Enron-style fashion.
For our 10yr anniversary, we're pleased to release a special report tomorrow on a multi-billion $ co. we believe is finally inflected downward+using a variety of tactics to portray growth. Directors + mgmt appear to be using the same playbook from decades ago to scheme investors.
Here are some quotes from experts that weβve spoken with recently about $AYX. Understood the valuation rich, but with the kind of feedback we got, the belief is there is a long runway for growth, and users are staking their life savings in the name
#bullish
#2008FinancialCrisis
#WhenLehmanCollpased
From chaos comes clarity + a defined purpose to right what is wrong. Spruce Point has committed a decade to exposing the hubris + excessive optimism in Wall Street's perpetual buy machine. The best is yet to come, thx for your support
RIP to HF pioneer Robertson. Wish i'd had a hedge fund mentor like him. Unfortunatley, found it hard to find a HF job so had to start my own HF 13 years ago from scratch. Now I like to mentor others.
Julian Robertson, the billionaire Tiger Management founder who became one of his generationβs most successful hedge-fund managers and a mentor to a wave of investors known as Tiger Cubs, has died. He was 90
20 years ago Enron filed bankruptcy. At the time I was a junior investment bunker at Credit Suisse. Oh yeah, Enron was client and I have some funny stories. Definitely shaped by interest in short selling and shady business practices
This year proved me wrong that stocks should do poorly in a worldwide depression. 2020 was a great year to learn that the
#1
"skill" of investing is gaming the government gravy train. Wishing everyone a prosperous 2021
Despite the $AI hype, C3 ai grew its customer base 0, as in ZERO, QoQ. Even worse, the CEO got on
@CNBC
yesterday and made multiple inflated statements. Anyone catch his claim they had 400 customers when in black-and-white the earnings release said 236?
@SECGov
@SEC_Enforcement
We will issue a unique new Strong Sell opinion tomorrow Oct 9th on a very misunderstood multi-billion dollar company where we can't reconcile material amounts of its revenues, and gross margin. Knowing the people behind it is critical to the story
Always interested in seeing academic research on activist short selling, though I'd like to see a report on how to change the institutional system and incentives to better protect shareholders and the public vs. favoring lying, scheming companies that pay auditors, bankers, etc
Pleased to issue our first "Strong Buy" opinion in almost 4yrs - long overdue. We see 30% to 50% upside in Henry Schein, Inc $HSIC and believe expectations are way too low for the spin off and merge of its animal health business with Vets First Choice (privately held)
#bullish
We are LONG shares of Alteryx, Inc. $AYX
It is our understanding that one factor driving todayβs selling in the stock is a belief that Spruce Point is planning on a releasing a short report. Categorically false.
#fakenews
Spruce Point thanks
@CitronResearch
/ Andrew Left for his many yrs of leadership in the short-selling community - bringing free + differentiated
#investing
#stock
#research
into a flawed market system that rarely says sell, and promotes a lot of worthless garbage to the public
Biden to propose capital gain tax as high as 43.4%; Hey
@JoeBiden
any exclusion for gains made exposing and shorting b.s. lying American companies that suck public money down the drain with no benefit to society?
New report out tomorrow. We've always said to carefully follow the people, and their motivations, behind a stock. We'll explore a misunderstood company where expectations need re-calibration + have tied a person to an acct'ing fraud we exposed in yrs prior that collapsed to zero.
Very pleased to issue a critical "Strong Sell" report on $XPO XPO Logistics entitled "Trucking Ridiculous; End of the Road" with 40-60% intermediate downside risk and up to 100% long-term downside
Interested in learning about corporate greed? Want to see how history repeats itself on Wall St when it comes to bad investments and poor business practices? Join us tomorrow as we release another report on a company experiencing a "rebirth" and stock surge on misguided hope
Spruce Point is issuing an open letter to former
@Yale
President and $AI Board member Richard Levin. I was taught to seek "Lux et Veritas" - Light and Truth in my endeavors as a Yale student. Does Mr. Levin follow the same motto he stood behind while at Yale and does it guide himβ¦
It was a difficult year for short sellers no doubt but that won't deter us from providing unique and thoughtful research in 2024. We expect to expose what we believe is one of the biggest ESG farces in the global equity market. All the best for 2024.
Pleased to issue a "Strong Sell" opinion on Stryker $SYK and $SPY company and two time SEC-charged Foreign Corrupt Practices Act company by
@SEC_Enforcement
. We think its the tip of the iceburg...
We have the best Twitter followers, thanks for all the support. Please like and retweet this so that we can break the 15,000 follower mark, and have a new and unique billion dollar short idea for after labor day
Decided to cover our remaining $OTLY
#Oatly
position. As much as we think it's a potential long-term zero, the risk/reward of staying short here isn't as attractive at the moment. Maximum pessimism priced in.
Don't let the market fool you on a computer driven friday. The economy is on the brink, debt is exploding, theft and vagrancy is on the rise, and yes, people are cancelling their insect control services. Have a good w/end
The
#stockmarket
is increasingly a measure of nothing other than gov't stimulus, distortion, and contorting financial models to make up arbitrary price targets. It's so obvious things are grinding to a halt here in
#NYC
with restaurants empty, and hotel rates for $125/night...
People asking "what to short now, the mkt is catching up w/reality that the economy sucks, fin. engineering+broker pumps propping up stocks"; Answer: the stocks up big this yr that missed tgts, have no moat/weak biz model (debt+price deflation hurts) $CVNA $TWOU $IRBT $DOL.TO
Pleased to announce the release of unique short report tomorrow. We've spent many yrs following this Company + believe now is the time to profile it. One of the most compelling risk/rewards we've ever seen in a changing economy where relying on history being long will lose you $$
$TWOU's implosion less than a year after our call shows that with hard to access data points and information, good old fashion channel checks, and debunking the structurally bullish sell-side narrative for a loved growth stock can deliver alpha. Our next idea is a carbon copy
Spruce Point to release a unique forensic report on a highly promoted stock scheme frequently promoted on business news channels. Live tomorrow June 22nd at
The market doesn't fully appreciate how bad today's news of forthcoming compression in real estate brokerage commissions will be to $Z. Zillow pivoted its model more towards taking a cut of broker commissions by sending out free leads. By extension, we expect this to lowerβ¦
If you like out-of-the-box, unique and non-consensus short ideas, tune in tomorrow as we release a special report on the debut of our new website: make sure to sign-up at
We have NO plans to release a such a report and our historical diligence suggests $AYX is at the forefront of data analytics and has an extremely sticky market position with a long runway of growth opportunity
#bullish
Very pleased to see the resignation this morning of Maxar Technologies $MAXR CEO Howard Lance. 14th CEO departure from a billion $+ company following a critical Spruce Point report
#deliveringalpha
#activism
We think we've saved the best for last for our loyal followers. If you missed our calls on $OTLY, $LSPD, $DNMR, $GENI, $ABML, $LDOS, $HSKA, $MGNI you haven't seen anything yet. Tune in tomorrow for our "Grand Finale"
Congrats to the whistleblower. Been trying for years for the SEC to take action on many highly credible tips. If I won, I'd hire 100 new college grads and employ them to find more corporate fraud. What would you do?
Today we announced the largest-ever award, nearly $279 million to a whistleblower whose information and assistance led to the successful enforcement of SEC and related actions.
Happy New Year to our loyal followers around the world. With your help we took Spruce Point from concept to a globally recognized disruptive force in the alternative research and investment industry over the past 10yrs. Staying long Spruce Point, short Wall St research πΎπ
Tomorrow at we are pleased to issue a unique new report on a misunderstood megacap you probably own directly or indirectly in your portfolio. We'll explain why we believe management is fleecing investors with creative financials and more!
$GS "Buy" $XPO today fueling the perception that Wall St research is a rigged game. Director Kingshott (who hid his role at Dreir's Ponzi Scheme) is a former Goldman MD. $XPO Chief Strategy Officer Fassler is ex-Goldman. Ex-Goldman CEO Thornton is CEO Jacob's palm beach neighbor
Tomorrow, Nov 10th we'll expose a major benchmark US company that we believe has been covering up margin + cash flow compression over a multiyear period. When you see the core product, it will be obvious why. Major disconnect between share price and reality
#skeptic
#wallstreet
Being an activist short seller is a hardscrabble life, the bashers hate on you 95% of the time, and then go silent when the market turns and don't come back and apologize or thank you for the fair warning
Happy holidays to our amazing Twitter followers around the world. Please like + retweet so that we can continue to grow our mission to deliver alpha by exposing corporate greed and excess + questionable behavior. $MAXR $XPO $TWOU $BLDP $MATW $DOL.TO $MRCY $KTOS
Very pleased to have been named a Top 5 Activist Short-Seller by Activist Insight magazine for 2022. We don't want to disappoint, so are releasing a unique new forensic research report tomorrow on what we believe is a major Wall Street stock promotion
Pleased to issue a new "Strong Sell" report tomorrow on a co. that is run by a CFO who yrs ago was the CFO of a co. that did a complete financial restatement, saw its share price delisted to the pink sheets + settled lawsuits charging it with fraud. Follow the
#rebates
$PETQ $KHC
Congrats to the
#SEC
@SEC_Enforcement
and
@WolfpackReports
for investigating a
#China
stock scheme, but it's not far enough. The U.S. stock exchanges are magnets for some of the world's WORST investments; Spruce Point will expose many very soon enough
Futures rally because there were more failures than expected, the root cause hasn't been solved, moral hazard increased, and the economy is still grinding slower. Have a great week $SIVB, and R.I.P $ SBNY
Stock promotion $IRBT downgraded to underperform at Raymond James. The 'old school' research model only says sells after the stock is down 50%. We try our hardest to say Sell ahead of the curve
Interested in learning about corporate greed, and how managers pursue self-enrichment strategies? Interested in forensic financial research, and how accounting and money shuffling can be used to inflate profits? Follow us + tune-in tomorrow, Wed July 24th
So are you still bullish on technology and $AI
#AI
#ArtificialIntelligence
? Remember, you have to do background checks on management and see what meat and potatoes are in the stuffing before you chow down. Catch us tomorrow with a new unique report at
Fake prices+fake
#economic
realities, supported by our moral hazard stoking $FED; welcome to the new
#investing
#paradigm
Tomorrow we'll profile a new short idea, one of the most egregious transfers of wealth from have/have not's we've seen. Wake up call
#WallStreet
#mainstreet
Good morning. We're issuing a unique new report and "Strong Sell" opinion on Super Micro Computer (Nasdaq: $SMCI) with 40-50% downside risk. Be warned, they settled SEC charges in 2020 for "widespread" accounting violations
Emboldened by complacent and frothy markets, we're issuing tomorrow July 31st another "Strong Sell" opinion on a company fundamentally being misunderstood by the market with substantial downside risk
We like investments where the probabilities are stacked in our favor. Spin-offs have been studied for years by academics, and the evidence strongly suggests they outperform in the long and short-term $HSIC
Lots of people spending time looking for companies that will make $$ from bitcoin and blockchain, we're spending time on companies with profits that will be obliterated by it
Let me help translate FEDSpeak 1) we've never accurately forecasted the economy 2) we're in uncharted territory due to our mistakes 3) we're raising rates + will continue to do so even if we overshoot a depression 4) we could care less about a Santa Clause rally. Have a good day
Tomorrow Jan 19th at we're kicking off 2022 with a unique new forensic report. A 100% Consensus "Buy" from the Wall St stock promo machine. Who cares if the CEO can't decide what degree he got in college. Details rarely matter until a
π»market hits.
@zerohedge
Been in this shady industry over 20 years, and seen a million reasons to buy stocks. Every event, no matter how twisted, is a reason to overpay for stocks
@rosemcgowan
@oortcloudfilms
@Oprah
Oprah won't respond to me why she invested in this shady oat milk company called Oatly that is spreading a potentially misleading narrative about its sugars, recyclability and sustainability claims among many other things
Nothing to see here: $RTO down 20% on a big warning about the North American pest control industry w/ organic revenue collapsing in half and margin expectations declining. We reiterate, $ROL has 30%-40% downside risk and there are multiple reasons its share price is MORE exposedβ¦
We have an explosive and concerning report on e.l.f. Beauty $ELF, a marketer of beauty cosmetics highly dependent on its brand equity with women. We find troubling evidence of a partnership with a firm linked to two fmr. members of the NXIVM cult, notorious for sex trafficking,β¦
Serious food for thought for the $AI
#C3AI
bulls. Your leader tells you he can sell stock only AFTER the stock bubbled above $45 and a big rah-rah investor day was staged? Keep the dream alive in this stock promotion please.
Very pleased to issue a "Strong Sell" opinion on Aerojet Rocketdyne $AJRD with 40%-60% downside once the market comes to terms with its shrinking revenues and significant fixed cost liabilities. Live at
Yet again, we will profile a company where a current Director has obscured his old Board position with a company where he settled SEC charges for a fine "without admitting guilt" related to a financial scheme - we now observe a similar pattern at his current company
Have a good weekend everyone. Remember, money comes, money goes but true friendships last forever. We hope you consider Spruce Point your partner in seeking financial truth.
If you invested in the market the past two years, chances are you lost money. If you didn't invest in the market, you also lost because of inflation. Either way you probably lost. Great outcome compliments of our leadership
Fantastic investigative journalism
on $AI- everywhere you look into this stock promotion red flags emerge. We hadn't looked into the size of the BakerHughes Salesforce claims. Wouldn't suprise us at all if they were massively puffed just like the stock price
has been a huge beneficiary of Wall Street's AI hype but short sellers and an investor lawsuit alleging $AI CEO Tom Siebel misrepresented metrics with one of its largest customers threaten to disrupt its momentum.
@YasminKhorram
reports.
The bear is awakeπ»It's a new year, and there are so many ridiculous stock pumps to expose. Make sure to sign up to our mailing list for alerts and unique ideas
Today we were ranked
#2
in Insightia's Activist Short Seller Top Five for year 2022. I'd like to thank: 1) our small+dedicated research team, 2) our critics for their motivation, 3) most important, our followers for your support
@ActivistShorts
@ActivistInsight
@diligentHQ
/
@CNBC
asked $AI for comment on Spruce Point's concerns, and they provided "no comment" - Will they respond to four basic questions. Let's see... not holding our breath
Great article from Bloomberg about the shrinking sell-side analyst research pool on Wall Street. I've been short this trend for years and glad to see the data and market agreeing that sell-side research is a low value-added proposition