270 documents showing 121–180

May 23, 2023

Spruce Point Capital

Perion Network Ltd. PERI

PERI's Apple-tier revenue per employee, opaque revenue recognition, Lumenis-tainted CEO and impaired Microsoft Bing deal point to a forensic short with 25-40% downside.

N4 V3

May 11, 2023

Elliott Management

The Goodyear Tire & Rubber Company GT

Goodyear's industry-low 5% margin and under-monetized 715-store retail platform create $32/share of value vs $11 today — via board refresh, retail sale, and operational review.

N5 V4

May 05, 2023

Starboard Value

LivePerson, Inc. LPSN

LivePerson's Founder-CEO LoCascio has destroyed value and ignored governance; Starboard is launching a 2023 proxy fight to force a CEO change or sale of the company.

N4 V2

Apr 20, 2023

Engine Capital

Parkland Corporation PKI

Parkland's board re-nominated its 24-year chairman and set sub-cost-of-capital ROIC targets; Engine urges shareholders to WITHHOLD on all incumbents to force governance, pay, and portfolio reform.

N3 V1

Mar 28, 2023

Scorpion Capital

Harmony Biosciences Holdings HRMY

Scorpion shorts HRMY: Wakix is a toxic, ineffective H3 antagonist propped up by sham foreign trials, an Insys-style kickback scheme, and off-label sales — collapse is imminent.

N4 V2

Mar 23, 2023

TCI Fund

Cellnex Telecom, S.A. CLNX

Cellnex is a great asset hobbled by a board that botched CEO succession; TCI will move at the AGM to remove Kan, Shore and Reich and seat its own director.

N3 V2

Feb 22, 2023

Soroban

Union Pacific Corporation UNP

UNP owns the best Class I rail franchise but ranks worst on every metric under CEO Lance Fritz; bringing back operator Jim Vena could double the stock to ~$400 by 2025.

N5 V4

Feb 07, 2023

Spruce Point Capital

Progyny, Inc. PGNY

PGNY is a $3.1bn fertility-benefits manager run by ex-WebMD/Medical Manager executives whose marketing claims, treatment model and 2023 growth are disputable, implying 60%-80% downside to $7-$14.

N5 V3

Dec 21, 2022

Oasis Management

Digital Garage, Inc. 4819 JT

Digital Garage's fintech payments arm is starved by a distracted conglomerate; spinning off FinTech and dumping the Kakaku.com stake unlocks ~100% upside amid Japan's cashless boom.

N3 V2

Dec 21, 2022

Oasis Management

Digital Garage Inc. 4819 JT

Digital Garage is missing Japan's cashless-payments wave; spinning off DG Financial Technology, divesting Kakaku, and refocusing management would nearly double the stock and lift profit before tax from JPY4.5bn to JPY11.4bn.

N4 V2

Dec 19, 2022

Palliser Capital

Capricorn Energy PLC CNE

Capricorn's board is destroying value by forcing a low-ball NewMed sale; replacing seven directors unlocks up to 400p per share via Palliser's Value Optimisation Plan.

N4 V2

Oct 27, 2022

Palliser Capital

Capricorn Energy CNE

NewMed's all-share bid for Capricorn hands shareholders a 42% discount and a self-serving board deal; a cash-return plus Egypt-focused optimisation path unlocks 400p/share instead.

N5 V4

Oct 19, 2022

Starboard Value

Multiple (Wix, Salesforce, Splunk, Vertiv) WIX / CRM / SPLK / VRT

Four high-quality TMT names (Wix, Salesforce, Splunk, Vertiv) trade at multi-year-low valuations; closing the margin gap to peers as the market shifts from growth to profitability unlocks substantial FCF/share upside.

N4 V3

Sep 07, 2022

Spruce Point Capital

FIGS, Inc. FIGS

FIGS is a fading pandemic winner whose founders exaggerated revenue 82% and TAM 135%; at ~4x sales versus 1.2x DTC peers, Spruce Point sees 45%-60% downside to $4.40-$6.05.

N4 V3

Jun 22, 2022

Spruce Point Capital

Generac Holdings, Inc. GNRC

Generac is a COVID-era generator beneficiary masking collapsing core demand and a string of shady clean-energy acquisitions; Spruce Point sees 40-50% downside to $110-$132/share.

N4 V3

May 09, 2022

Starboard Value

LivePerson, Inc. LPSN

Starboard owns 9.7% of LivePerson and is running a proxy fight to reconstitute the board and unseat founder-CEO Rob LoCascio, arguing toxic culture and weak governance have driven chronic underperformance.

N4 V2

May 09, 2022

Starboard Value

LivePerson, Inc. LPSN

LivePerson's founder-CEO and entrenched Board have destroyed value through strategy drift and toxic culture; Starboard's proxy slate will reconstitute the Board and refocus the company.

N4 V3

May 01, 2022

Carl Icahn

McDonald's Corporation MCD

McDonald's board broke a 10-year promise to end gestation crates; replace Penrose and Lenny with two ESG experts to fix systemic governance and sustainability failures.

N4 V3

Apr 26, 2022

Sachem Head

US Foods Holding Corp. USFD

Sachem Head owns 8.7% of US Foods and is running a proxy fight to install five directors who can close the Sysco margin gap and deliver ~100% upside.

N4 V3

Apr 06, 2022

Spruce Point Capital

Stryker Corp. SYK

Spruce Point exposes Stryker's FCPA-tainted accounting, failing acquisition roll-up and margin squeeze under CEO Lobo — Strong Sell with 35%-75% downside to $67-$174.50.

N4 V3

Mar 08, 2022

Starboard Value

Huntsman Corporation HUN

Huntsman has misled shareholders for 15 years — missed EBITDA targets, destroyed Textile Effects, fire-sold Venator — while a legacy board shielded management; elect Starboard's nominees.

N4 V3

Mar 03, 2022

Starboard Value

Huntsman Corporation HUN

Starboard is running a proxy fight for four Huntsman board seats, arguing a CEO-beholden board allowed 337% S&P underperformance and three missed Investor Day promises.

N5 V3

Mar 02, 2022

Starboard Value

Huntsman Corporation HUN

Huntsman has serially missed its own Investor Day promises while an entrenched board shields management; elect Starboard's four independent chemical-industry nominees to restore accountability.

N4 V3

Feb 28, 2022

Starboard Value

Huntsman Corporation HUN

Huntsman, led by the founding family for its entire history, has missed three consecutive investor-day targets and lags peer EBITDA margins by ~900bps; Starboard's four nominees can unlock ~600bps of margin expansion.

N5 V4

Feb 16, 2022

Spruce Point Capital

C3.ai, Inc. AI

C3.ai is a serially rebranded, money-losing AI story-stock propped up by an unraveling Baker Hughes JV and aggressive accounting; Spruce Point sees 40-50% downside to $12.85-$15.40.

N5 V3

Feb 10, 2022

Starboard Value

Huntsman Corporation HUN

Huntsman has chronically underperformed chemicals peers and missed three straight Investor Day targets; Starboard (8.6%) seeks four new directors to restore accountability and unlock value.

N4 V3

Feb 10, 2022

Starboard Value

Huntsman Corporation HUN

Huntsman has underperformed peers by 575% since IPO and missed three straight Investor Day targets; elect four Starboard nominees on the BLUE card to restore board accountability.

N3 V2

Jan 12, 2022

Starboard Value

Huntsman Corporation HUN

Huntsman has missed every Investor Day target since 2014 and underperformed chemical peers by 330% since IPO; Starboard nominates four directors to force execution.

N4 V2

Jan 12, 2022

Starboard Value

Huntsman Corporation HUN

Huntsman's decade of missed EBITDA targets and defensive governance demand Board change; Starboard nominates four directors to restore accountability and close the chronic peer-valuation discount.

N4 V2

Oct 26, 2021

Oasis Management

Hokuetsu Corporation 3865

Hokuetsu's 13-year CEO resists change as its paper business declines; selling Daio Paper cross-holdings and pivoting to biomass power can quadruple market cap to ¥533.9bn.

N3 V1

Aug 31, 2021

TCI Fund

Canadian National Railway CNI

CN, once the best-run Class I railroad, is now the worst under CEO Ruest; abandon the KCS deal and install Jim Vena to restore operational excellence.

N4 V3

Aug 16, 2021

Starboard Value

Box, Inc. BOX

Box has chronically lagged peers and entrenched itself via an unnecessary $500M KKR preferred financing; electing Starboard's minority slate restores stockholder accountability and unlocks long-term value.

N4 V2

Aug 06, 2021

Starboard Value

Box, Inc. BOX

Box is a best-of-breed cloud content platform that has missed every revenue target since IPO; a reconstituted board can fix go-to-market execution and close a massive valuation gap to peers.

N4 V3

May 20, 2021

Starboard Value

Box, Inc. BOX

Box's board issued $500m of KKR preferred to lock up >10% of the vote and entrench itself ahead of Starboard's proxy contest — Starboard demands the books and four new directors.

N3 V1

May 10, 2021

Starboard Value

Box, Inc. BOX

Box has underperformed cloud peers for years despite engagement, and the Board just cut a dilutive financing to 'buy the vote' — Starboard nominates four directors to force real transformation.

N3 V1

May 03, 2021

Starboard Value

Box, Inc. BOX

After a failed 2020 settlement, Starboard will nominate directors at Box's 2021 Annual Meeting, citing missed growth targets and a $500M convertible preferred it calls a 'buy the vote' scheme.

N3 V2

Apr 08, 2021

Spruce Point Capital

Porch Group Inc PRCH

Porch is 'Active Network 2.0' run by the same CEO — a money-losing lead-gen business dressed as SaaS, with barter accounting and hidden debt implying 50%-70% downside to $5-$8.

N4 V3

Mar 08, 2021

Wolfpack Research

Skillz, Inc. SKLZ

Skillz's SPAC-era growth story is collapsing — its top three games (88% of revenue) are in freefall while management touts fake NFL and Buck Hunter 'partnerships' to mask the miss.

N4 V2

Feb 16, 2021

Spruce Point Capital

Leidos Holdings, Inc. LDOS

Leidos is concealing defective explosive-detection products from its impaired $1bn L3Harris SD&A deal while inflating cash flow 67-78%; sell with 35-60% downside to $43-$70.

N4 V3

Feb 16, 2021

Ancora

Forward Air Corporation FWRD

Forward Air's acquisition-led growth strategy has decimated its core LTL margins; Ancora's nominees will restore operating discipline and unlock ~50% upside to $130-$135/share.

N4 V2

Jan 21, 2021

Starboard Value

Corteva, Inc. CTVA

Corteva's spin-off potential is squandered by CEO Jim Collins and a complacent Board; Starboard nominates eight directors to force leadership change and unlock operating value.

N3 V2

Jan 07, 2021

Scorpion Capital

Nevro Corp. NVRO

Nevro is a failed one-trick pony at 15x sales: the pivotal SENZA trial was rigged, HF10 is a phony premise, explant rates run 22-33%, and kickbacks prop up what remains of sales.

N5 V3

Jan 07, 2021

Spruce Point Capital

Magnite, Inc. MGNI

Magnite is a hype-fueled ad-tech merger masking Telaria's deteriorating CTV business with dubious management and suspect accounting; 25%-50% downside to $14.75-$20.

N4 V4

Dec 01, 2020

White Diamond Research

GreenPower Motor Company GP

GreenPower markets itself as an American EV bus manufacturer but is merely reselling re-logoed Chinese Weichai Eurise buses — not Buy America compliant and worth ~$1.50, implying 90% downside.

N4 V2

Sep 22, 2020

Land & Buildings

Apartment Investment and Management Company AIV

AIV's proposed taxable reverse spin-off won't close its 18% NAV discount and lets Considine duck 25 years of underperformance; demand a shareholder vote or explore a sale at $58 — 75% upside.

N3 V2

Jun 30, 2020

Spruce Point Capital

Prestige Consumer Healthcare Inc. PBH

Spruce Point is short Prestige Brands: a decaying OTC roll-up with no organic growth, CFO déjà-vu from Boulder Brands' collapse, and 40-60% downside to $14.80-$22.50.

N4 V3

May 11, 2020

Starboard Value

GCP Applied Technologies GCP

Starboard rebuts GCP: stock has lagged peers on every milestone since the 2016 spin-off, and Starboard's superior director slate can finally drive the turnaround management hasn't delivered.

N4 V3

Apr 30, 2020

Starboard Value

GCP Applied Technologies GCP

Four years post-spinoff, GCP has lagged peers on growth, margins, and stock price under an insular, interconnected Board; replace nine directors and unlock ~600 bps of EBIT margin expansion.

N4 V3

Apr 28, 2020

TCI Fund

Wirecard AG WDI

KPMG's failed audit of Wirecard's EUR 1bn trustee cash and TPA revenues creates a legal duty for the supervisory board to remove the CEO immediately.

N5 V2

Apr 22, 2020

Wolfpack Research

Inspire Medical Systems, Inc. INSP

Inspire's surgical sleep-apnea implant is too invasive to ever scale — VA sales prove patients refuse it for free, while insiders have dumped $340M cashing out a fictional $10bn TAM story.

N4 V2

Feb 05, 2020

Pershing Square

Pershing Square Holdings (fund-level portfolio update) PSH

Pershing Square's 2019 return to its concentrated activist playbook drove a 58.1% NAV year; two new positions (Agilent, Berkshire) and a 28.9% NAV discount extend the compounding runway.

N2 V3

Dec 19, 2019

Spruce Point Capital

Plug Power Inc. PLUG

Plug Power's $1.5B valuation rests on a fake 'inflection to profitability' manufactured by ASC 842 lease accounting; strip the add-backs, face 80% dilution, and the stock trends to $0.

N5 V3

Oct 29, 2019

Spruce Point Capital

Hill-Rom Holdings, Inc. HRC

Hill-Rom is a low-quality medical roll-up whose plateauing new products, exhausted margin expansion and aggressive accounting point to a 25-55% drop to $45-$75 per share.

N5 V4

Sep 24, 2019

Elliott Management

Marathon Petroleum Corporation MPC

Marathon Petroleum's conglomerate structure traps $22–$40bn of value; separating Refining, Midstream and Retail into three focused companies unlocks 60%+ upside now and over 100% long-term.

N5 V4

Sep 16, 2019

White Diamond Research

Accelerate Diagnostics AXDX

AXDX is a one-product company whose Pheno system is a flawed niche diagnostic — missed reagent targets, a looming Mayo-UCLA study failure, and cash burn point to 70% downside to a $6 price target.

N4 V2

Sep 05, 2019

Spruce Point Capital

Church & Dwight Co., Inc. CHD

CHD trades at an all-time-high premium as a trade-war safe haven, but CEO Farrell's financial-engineering roll-up is cracking; 35-50% downside to $40-$52/share.

N5 V4

Jun 27, 2019

Grizzly Research

New Age Beverage Corp. NBEV

NBEV paid $85m for Morinda, an MLM with inflated China financials and missing licenses in 60% of provinces — stock faces 60% immediate downside.

N4 V2

Jun 27, 2019

Grizzly Research

New Age Beverage Corp. NBEV

NBEV overpaid $85m for Morinda, an MLM with inflated China revenues and illegal operations; the stock faces 60% immediate downside and likely insolvency.

N4 V2

Jun 01, 2019

Citron Research

FleetCor Technologies FLT

FleetCor's Clean Advantage carbon-offset program is a $100M+ green fraud — 97% of fees stay with FLT, demanding CEO Clarke's resignation and implying ~57% downside.

N4 V3

Apr 09, 2019

Spruce Point Capital

Aerojet Rocketdyne Holdings, Inc. AJRD

AJRD's rocket franchise is eroding as Blue Origin and SpaceX displace it; aggressive accounting and ~$900M ignored liabilities mask 5x leverage and 40-60% downside to $13-$20.

N4 V3