🐻The Bear Cave #23🐻
New Activist Reports, What to Read, and Tweets of the Week
Welcome to The Bear Cave — your weekly source of short-seller news. Feedback and sharing are always appreciated. If you are new, you can join our email list here.
New Activist Reports
Citron Research published a long thesis on K12 Inc (NYSE: LRN — $1.91 billion). Citron wrote,
“K12 Inc. will emerge as the online school of choice for America’s 57 million K-12 students and the leading back-end solution for the over 130 thousand K-12 schools that are looking to shift from brick and mortar to a hybrid model with a full online component.”
CNBC published an investigation into small biopharma company NanoViricides (NYSE: NNVC — $77 million). NanoViricides has no customers or revenue, but the stock is up 171% YTD on hopes the company will develop a coronavirus vaccine. The company was previously criticized by White Diamond Research.
What to Read
“Wirecard Boasted of Hundreds of Partnerships. Some Were Less Than Meets the Eye.” (WSJ)
“Business unit leaders would get regular calls from the investor relations team demanding things to announce, according to one employee. Some joked internally that these releases were Wirecard’s real product.”
“Bridgewater ‘manufactured false evidence’ in trade secrets case” (FT)
“According to court documents made public on Monday that quote findings from a panel of three arbitrators, Bridgewater was found to have “filed its claims in reckless disregard of its own internal records, and in order to support its allegations of access to trade secrets, manufactured false evidence”.”
“Blank-Check Boom Gets Boost From Coronavirus” (WSJ)
“In the 1980s, blank-check companies were often associated with penny-stock frauds. Laws and regulations implemented in the next decade helped clean up the sector, and in recent years SPACs gained traction as blue-chip institutions embraced them.”
Tweets of the Week
Until next week,
The Bear Cave
Zero chance that NPS data is remotely accurate